Looks like the setup of a classic blow off top chart pattern. Might see new lows around August and then continue the downtrend after a short relief rally. Let's see what happens!
Every single day someone is posting that next week is the week the SPY falls 10%. It's not happening man. And when it happens, nobody on here would have called it because it will take another random event that has nothing to do with the past - which is what TA looks at.
tradersaurusrex
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Sorry, we are going starting to $340 and beyond. $370 by year end.
subhra987
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@tradersaurusrex, Sure, that's one possible scenario! I am just laying out what I think is more likely.