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JerryManders
Nov 3, 2023 9:53 AM

SPY Path Short

AMEX:SPY1D
SPDR S&P 500 ETF TRUSTArca

Description

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This is what SPY will do near and mid term:

- Begin drop somewhere between 11/3 (today) and 11/8 (next week) to 398-405 range [402 point target by end of November 2023]

- Bounce/relief rally to 434-444 by mid to late December 2023

- Massive drop in 2024 to 360-380 minimum, possibly as low as 290s

Short it, buy it, then short it again. These are very tradeable moves and they'll hit - follow the red path.

Trade closed manually

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Bulls have this, I'll post an update soon - this will squeeze a lot higher in coming weeks before a crash in 2024.

Comment

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One more move up to around 455 then pullback to 425-435

Refer to this post on QQQ for updated market analysis

Chart PatternsBearish Patternsforecastpricetargetstiming
Comments
Luck264
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440 is next pump
kvishwa
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when many factors indicates bullish you are telling it will fall
Tony00732
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Your forecast was way off sir. It might pull back to fill some of the gaps. Then continue moving forward. I guess we’ll wait and see.
mistogan86
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how much you lost?
MyCryptoParadise_Nathan
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Interesting perspective on the market. Keep up the good work!
bjorn2z
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Being an overall skeptic, I like your 402 end of November target, and the 360-380 target for 2024.
The bounce may not be as high as 434? I am sitting 94% in TBills/JAAA/PULS, 6% in FNBGX/SCHP, and 18% short NVDA/TSLA
JerryManders
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@bjorn2z, I'm getting out of short positions, this can squeeze similar to November 2021
Luck264
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@JerryManders do you mean November 2022. In fact both November having balanced buy and sell orders. Nothing will go straight one direction
JerryManders
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@Luck264, The next week will likely be straight up. Pullback around 440-450, then continue higher to 470-480 where it will start to top.
Luck264
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@JerryManders charts.equityclock.com/sp-500-index-seasonal-chart
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