I think
SPY
has seen the highs for the year and is starting the process of rolling over. I think people like Tom Lee calling for new highs on the year are about to get humbled.
I think we're going to go lower than last year, the question really is how low do we go?
My bets would be the bottom is under $300. $270 looks like a good place to bid (a 40% drop from here)
SPY
has seen the highs for the year and is starting the process of rolling over. I think people like Tom Lee calling for new highs on the year are about to get humbled. I think we're going to go lower than last year, the question really is how low do we go?
My bets would be the bottom is under $300. $270 looks like a good place to bid (a 40% drop from here)
Comment:
Note there is the possibility of one more fake out move higher to $446.68, if that happens and it can't close above that level, top is in.
Comment:
Got the move to $446 - took puts in the $406-407 range. Now let's see if we get the fake out move higher.
Comment:
Alright, thinking we get the reversal here into next week.
Comment:
Now underneath top resistance. Targets below will help guide you throughout the next 6-9 months.
