SPY should hit 422 on or by March 8th. Indicators show that Bullish momentum is growing weaker, while the On Balance Volume shows struggle in SPY going any higher.
With surging oil prices, and an escalating War in Europe, I think SPY will have a harder and harder time breaking through it's resistances. We also have the FEDs rate hike in March, and with new talks of the U.S and Europe closing gas lines from Russia, it is very possible we see an even higher surge in inflation, causing the FED to react faster than investors have priced in.
I will be looking for put opportunities on NVDA and SPY.
With surging oil prices, and an escalating War in Europe, I think SPY will have a harder and harder time breaking through it's resistances. We also have the FEDs rate hike in March, and with new talks of the U.S and Europe closing gas lines from Russia, it is very possible we see an even higher surge in inflation, causing the FED to react faster than investors have priced in.
I will be looking for put opportunities on NVDA and SPY.
