MagicPoopCannon

Is The Stock Bubble About to Burst? Lets Find Out! (SPY)

AMEX:SPY   SPDR S&P 500
Hi friends! Looking at the four hour chart for the SPY             ( S&P 500             ETF ,) we can see that the bulls are on fire! The S&P             has been in a beautiful uptrend channel , and price action has just broken out to the upside. Also, momentum on the MACD is expanding to the upside, confirming the strength of the current move. The SPY             is in uncharted territory at the moment, so it's probably wise to be nimble, tighten your stop losses, and trade with caution. This market is certainly overbought, and the likelihood of the imminent correction occurring, becomes greater and greater every day. For now, this market is poised to move higher. Looking for signs of danger, we can see that volume has been on the decline, signaling some exhaustion in the market, and we are in overbought territory in general. However, do not forget that, until proven otherwise, "the trend is your friend." The market could continue much higher. So many people have called for a correction that hasn't come. Stocks are experiencing the longest run in history, without a 7-10% correction. So invest wisely, and be very, very, careful.

***This information is not a recommendation to buy or sell. It is to be used for educational purposes only.***

-JD-
worst prediction
Phản hồi
You're clearly seasoned from a TA perspective, what does the swift decline and bounce off the 200MA on SPX tell you is occurring in the here and now?
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