TanzirHasan

SPY Future Prediction ! Ultimate Support level at 190 level !

Short
AMEX:SPY   SPDR S&P 500 ETF TRUST
Here I applied both Fibonacci, Elliot Wave and Market sentiment (Corona Virus effects , Economical Crisis). I am expecting market volatility will continue up to next two weeks. In this week we may see that SPY will reverse again and start falling. It may touch to 220-225 level. Then a small bounce up to 240 level and then again it will fall and touch the recent bottom around at 215 level. Then again we may see a small bounce to around 225 level and investors will become bullish and will think market get the ultimate support but the irony of fate that market will again show a reversal pattern and fall up to 180-190 level. The entire correction will happen in around 2 months. After mid May market will start bounce again. Within this year market will strongly come back and do a rally around 50%-60% from the bottom level and reach up to 265-280 level. Thanks

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