I'm probably not the only one out there thinking something weird is up with the market. We have increasing inflation and this market is essentially growing parabolically. If you are big on Fibonacci and look at the market from 2009, indexes have been probably the best places to put your money but wow. Now the interesting part is if you chart Fibonacci like I do, we have two things that line up is the Fibonacci from 2009 and the Fibonacci since the bottom of COVID. Strangely lines up and we have an ascending wedge. Can the market sustain this level of growth? All I'm saying is at some point, everything needs a retracement. At some point I think people are going to start calling the FED's bluff on the strength of the market.
2009-2017 the market has had healthy pull back corrections of 5-15% ever now and then. the peek of 2018 when spy was at 293 we seen the {crash} so to speak it took a whole year to recover.
from here on out the GRAPH IS PRETTY MUCH RESTED YOU CANT NO LONGER LOOK AT PAST DATA..... ITS REALLY DOSENT COMPUTE ANYMORE SINCE THE MONEY PRINTED SO MUCH.. so we have
COVID-19 also know as money grab of the century. we seen the spy fall off the cliff...but thanks to daddy pow the world seen a 30% more money being pump like blood transfusion in to the economy.hence why you see the spy is back up and stronger then ever. little known fact is that everyone is forced on the stuimmy checks but that is only like 10% of the money printed most of the rich had loop holes to grab the free money being printed. the question is have they deploy it all in to the market yet....
and also as long as the FUD keep saying everything is fine and rate are low thing #spy is keep gonna climb.
redlinesd
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yes, 444 ish to 424ish and then up and away. unless starts to go lower.