SPY - At the brink of decisiveness
Apple had a 27% rally in six weeks.
Also spy has rallied 12% in the last two weeks.
Well, we actually crossed 4,156.90 at SPX.
We are in an interesting position, we actually crossed 4,156.90 at SPX. MM's didn't start selling off too much yet, so that does mean we will reach 100% 417 at SPY. If you are into calls that information should profit you. In any case, you should have a limit sell order right there, because we will reject it 100%, since it's our daily MMa of 200, even though we will likely cross it soon. As I said in previous posts, we can also see bitcoin near 30k by end of month.
The key point here is if Apple can cross 175 and get to new highs, then the bear market is over, otherwise if we reject it, then we will drop.
We currently are consolidating that 408-415 range. If big money does not start selling yet, we might see 430 "soon". I don't think we are out of the bear market yet but don't expect the market to crash this week. Unless Stock market enter into berserk mode we will chop until next wednesday.
What can we expect next week?
- If news are bad, we will likely have a false breakout, but if MM's start selling off in the coming days then we could see an imposing drop.
- It is likely we will see at least 430 by the end of next week if the news is positive.
There has been a lot of change in stock markets, volatility has increased dramatically, so we see new tops and lows much more quickly now than in the past. Slow increases don't exist anymore since all the free printing started around 2020, so the FED wants the economy to slow down, since it is easier to predict. Due to the impatience of the stock market, more corrections will be expected, and whatever MM's decide will always be done. While they managed to slow the drop, the month of June should have been more negative than it already was.
Also spy has rallied 12% in the last two weeks.
Well, we actually crossed 4,156.90 at SPX.
We are in an interesting position, we actually crossed 4,156.90 at SPX. MM's didn't start selling off too much yet, so that does mean we will reach 100% 417 at SPY. If you are into calls that information should profit you. In any case, you should have a limit sell order right there, because we will reject it 100%, since it's our daily MMa of 200, even though we will likely cross it soon. As I said in previous posts, we can also see bitcoin near 30k by end of month.
The key point here is if Apple can cross 175 and get to new highs, then the bear market is over, otherwise if we reject it, then we will drop.
We currently are consolidating that 408-415 range. If big money does not start selling yet, we might see 430 "soon". I don't think we are out of the bear market yet but don't expect the market to crash this week. Unless Stock market enter into berserk mode we will chop until next wednesday.
What can we expect next week?
- If news are bad, we will likely have a false breakout, but if MM's start selling off in the coming days then we could see an imposing drop.
- It is likely we will see at least 430 by the end of next week if the news is positive.
There has been a lot of change in stock markets, volatility has increased dramatically, so we see new tops and lows much more quickly now than in the past. Slow increases don't exist anymore since all the free printing started around 2020, so the FED wants the economy to slow down, since it is easier to predict. Due to the impatience of the stock market, more corrections will be expected, and whatever MM's decide will always be done. While they managed to slow the drop, the month of June should have been more negative than it already was.
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