Continuing $SPY saga. 'THE SPY WHO LOVED US'
When looking at the Monthly or Weekly charts, the "red" days were nothing but a bump on the road--Treasure yields yelled "BOO" and most retail investors screamed in horror. Yesterday it found support at the .618 Fibonacci retracement, and today it closed above the .786 Fibo, few points away from its ATH.
Now that Powell is done, the next talking point is the Stimulus. Notice how politicians started coming front and center? They're pushing for a VOTE, asap, and want it passed by March 14th, why??
The Covid Pandemic will dramatically improve by end of March. Economy will be humming quickly--so the BULLISH play is still intact.
On Thursday, I anticipate that even if the jobless rate is negative, the talk of Stimulus will keep it bullish--and the power brokers are hoping that the stock market will cooperate.
I'm still cautious; trying to keep as much cash in reserve; and using hedging strategies when buying options.
Happy Trading, from CJ -- aka the greatest FURU.
To find out more about The Ultimate Stock Indicator on Tradingview, please check my public profile. 🚀🚀🚀🚀
When looking at the Monthly or Weekly charts, the "red" days were nothing but a bump on the road--Treasure yields yelled "BOO" and most retail investors screamed in horror. Yesterday it found support at the .618 Fibonacci retracement, and today it closed above the .786 Fibo, few points away from its ATH.
Now that Powell is done, the next talking point is the Stimulus. Notice how politicians started coming front and center? They're pushing for a VOTE, asap, and want it passed by March 14th, why??
The Covid Pandemic will dramatically improve by end of March. Economy will be humming quickly--so the BULLISH play is still intact.
On Thursday, I anticipate that even if the jobless rate is negative, the talk of Stimulus will keep it bullish--and the power brokers are hoping that the stock market will cooperate.
I'm still cautious; trying to keep as much cash in reserve; and using hedging strategies when buying options.
Happy Trading, from CJ -- aka the greatest FURU.
To find out more about The Ultimate Stock Indicator on Tradingview, please check my public profile. 🚀🚀🚀🚀
Indicator Pro, U don't have to watch the screen all day. For more info, DM on Discord or Telegram t.me/CJtheFP