tradewatcher2020

SPY going higher, Trump wins

Long
AMEX:SPY   SPDR S&P 500 ETF TRUST
The red monthly candle was about a 30 percent retracement of a move up from March 23, 2020 at a low of about 212 to early September 358 price point that I see as one leg up. September 2020 candle has a long wick about half way or so back up the candle. Buyers are stepping in. This move up will continue higher for next few months forming a second leg up before retracing. Looks like markets are betting on Trump winning the election after yesterdays debate. Would you want Biden in office?
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.