Madrid

Bubblelicious. Just keep in mind the Musical chair game.

AMEX:SPY   SPDR S&P 500 ETF
249 0 17
We have been in a bullish market, one of the most loved and hated bull markets in history, the reason is basically because the so called “Correction” doesn’t seem to appear anywhere and investors don’t want to get caught off guard when it happens. Nobody can predict the future, but at least we can foresee where are the key levels where a reversal or continuation could happen.
There is a historic channel and the pivot point for this is located at 185 around April-May this year. The SP500             was able to breakout and made it to the upper side, Now the market keeps on growing and growing fueled by QE             and 0 interest rates.
Key levels to watch for, 205 on the $SPY and around 2050 on the SPX             which are levels where the 1.618 Fib level will be reached, this is important because this is a strong Resistance to the upside. So the so called correction is likely to happen when that level is reached by the end of the year after the Santa Claus Rally, if the market doesn’t say otherwise.
So keep on dancing as long as the music plays, but keep in mind this is the musical chairs game.
Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Billing Sign Out