dereckcoatney
Short

SPY Rally Likely to End Soon

AMEX:SPY   SPDR S&P 500 ETF TRUST
SPY is looking to tag the top trend line of a long-term megaphone pattern that has been developing since January of 2018. It almost coincides with the 78.6% fib retracement from the February highs to the March lows. Despite the constant push up in the markets, I do still believe that we are in a bear market, and that the gains made in the market since the March lows are nothing more than a bear market rally.

I do expect the market to capitulate again, revisiting and then eventually falling much lower than, the March lows.

Comments

I been reading about the next leg down coming this week for six weeks. The FED said " whatever it takes" and they mean it. The market believes Jay Powell.
+2 Reply
@jdgpro, Well, it all depends on one's investing time frame. This rally is long, to be sure, but the first bear market rallies in new bear markets often take a couple months or even longer to resolve. If we're not there now, we're super close, I believe.
Reply
JVtrades08 dereckcoatney
@dereckcoatney, any thoughts on possible catalysts for the correction to the downside?
Reply
all rational is gone in this market. what is know is no longer so. carts will not help.
+2 Reply
very nice... looking to establish some shorts alligned with my setup here too, gonna wait patiently and pounce...
+1 Reply
Good job.
+1 Reply
Thanks for your comprehensive analysis.
+1 Reply
Well done.. Keep posting
+1 Reply
i've been watching this line as well
+1 Reply
Agreed, we will see this all come back down to 280.
+1 Reply
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Refer a friend My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out