Since June-2020 the SPY has not touched the 200-day moving average.
Every dip is bought up by some mysterious entity.
US Federal Reserve money printing, which is causing massive inflation in the real economy, is pushing the SPY higher.
Will the mysterious entity allow for a 5% or 10% correction. Will a 15% correction be allowed?
Cash needs to go into...
SPY currently in an accumulation zone. Target 380 by late Feb-2020.
The market does seem overly bullish, so I think the market makers will let the party ride higher.
After hitting the target of 380, be prepared for a 5%, 10% or 15% correction.
SPY has formed a triple bottom.
If we maintain 332 we could go higher from here. Probably choppy trading at this level. Bull case if above the 20-day, at 338.
If we slide under 332, then the bears win this round, and we could drop back to test 310 (200-day SMA on the daily).
Keep an on QQQ, it hit the 50-day SMA on the daily (like the 50-day). The tech...