- SPY likely to trend sideways 280-290 in short term.
- Current level is perfect to short.
- I am bearish on the stock, on the fundamental level, at least until 2021. However, there are political forces at play that are keeping the market up.
- Always bullish for the long term, however.
- This neither a bear market nor a bull market.
- I am pessimistic on the short term outlook, yet I still believe that certain forces are still able to hold the price at current levels, thus I am expecting the SPY to move sideways.
- Sideways means buy low, sell high? No, since I am bearish, I will only sell high(~290), take profit low(~280). But I will not buy near 280.
- Current level is perfect to short.
- I am bearish on the stock, on the fundamental level, at least until 2021. However, there are political forces at play that are keeping the market up.
- Always bullish for the long term, however.
- This neither a bear market nor a bull market.
- I am pessimistic on the short term outlook, yet I still believe that certain forces are still able to hold the price at current levels, thus I am expecting the SPY to move sideways.
- Sideways means buy low, sell high? No, since I am bearish, I will only sell high(~290), take profit low(~280). But I will not buy near 280.
Comment:
Staying away from SPY for a while now. Broad market is unpredictable.