SPY may reach one or two more ATHs before weekly RSI hits the resistance line. I see two possible scenarios, US economy crashes with 40-45% decline, and then recover much quicker than March 2020 as it resumes its uptrend until the biggest bubble pops in October 2022. Or US defaults in the coming weeks, and we all experience mother of all crashes into March.
No offense but your 190s is pretty laughable. You should look back a bit further and not focus on just the last 2 drops. Things will make sense. Yes, there is a big drop coming (as in crash percentages) but not that low... We will not see 190s.. if we did... this country would be fucked beyond words, although it kind of is.. it's still not that bad. We will be breaking below the 3s though...
SXTrading
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@CJS04, Look at the dot com crash and maybe reassess.
CJS04
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@SXTrading, SPY will be breaking the 300s but not by a whole ton. You do realize most tickers will have dropped anywhere from 50-90% from their all time 2020/2021 bull run highs by that point right? Even the big tech stocks will have dropped by 50%. The market patterns do not suggest anything of the such in tickers or indexes. Sorry. I am as bearish as can be, there will be a crash, but not to the 190s.
@Fahadxx88, Circling back here. You have anything to say?
S_Behiyat
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I don't think this is gonna be a crash. It will be a slow and steady decline. What happened in March 2020 is not gonna happen, because March 2020 was a black swan event (i.e. no one expected it). You look at everywhere and can see that every donkey is talking about a crash. This fails to meet the definition of a black swan event.
WallstreetDon
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its not gonna fall 60% there will be a pull back to 330/340 then we will see what will happen then either the market will alredy be priced in at that support we wont know till then
golddan
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only china has a war with USA on Taiwan. everything is possible-:)