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GregFolin

$SPY Doom and Gloom Prevails, But Support and Stimulus on Deck

SPDR S&P 500 ETF TRUST (AMEX:SPY)  
GregFolin  
AMEX:SPY   SPDR S&P 500 ETF TRUST
Chart Patterns Technical Indicators Beyond Technical Analysis SPDR S&P 500 ETF (SPY)
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chartpattern indicator beyondta spy
SPY dropped to a major support zone during a week of chaotic pandemic-driven crashing action. Expect a giant cut by the Fed and talk of fiscal stimulus in the EU to start to curb the panic this week.

Fed funds futures are already pricing in a 50 bps cut by Powell and the gang this month and Italy and Germany have already stated they will buck the EU pact to run fiscal stimulus with no argument from Brussels.

With everyone short or hedged, this week could get interesting.
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