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tendency
Jan 13, 2021 3:17 PM

SPY: you'd seriously buy this? Short

SPDR S&P 500 ETF TRUSTArca

Description

Rarefied air up here very close to multi-year top IMO. Sure, we can grind higher for a few months .. but all you buyers, look at the trajectory of this weekly chart. Do you really think it can keep going straight up for much longer?

Comment

Looks increasingly probable as of this writing (2/23) that the 3rd wave in the markets has topped. We could be in for a sustained correction at this point. Inflationary fears look to be kicking in.
Comments
tendency
Thesis appears to be confirming.
T-r-X
I'm not putting any cash in this rigged market, I don't care missing out.
Rule #1 never lose money.
bi40ptions
yes
Dr_Roboto
I was saying that back in July, but yet here we are. This is the "greater fool" theory playing out. I think we are right around the week of April 18 or Dec 27, 1999. Market should have started a healthy bear market in Jan, 2019, but the Fed figured out how to artificially stop a recession with money printing. Who new you could effectively print money to pay yourself (treasure bonds).
tendency
@Dr_Roboto, I think we could move higher for 2-4 months and wouldnt be surprised to see us print a 4 handle but we're getting close, very close, IMO to a serious pullback. Thanks-
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