AMEX:SPY SPDR S&P 500 ETF TRUST
S&P500 broke out of the
With the gap, most likely on the fears
Of the Evergrande default crisis in China
Which might spark a chain default reaction
In China and across the globe
If Beijing does not intervene
Taking of the SPY , I don't think that this is the end
Of the rally, but a healthy correction is needed
So I am expecting the price to drop
To the technically and psychologically important level of 400$
Which would give us a 10% correction from the all time high
From that level the growth shall continue
Until the FED stops its easing program
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