Look for SPY to close the Gap around 369 =370 and to potentially reach downward to the Target 1 displayed. And if we get the drop that I expect could happen than those Target 1 and Target 2 areas could be coming down the pipeline before the end of the year and into Q1 FY2023. SPY is at 384.90
When thinking of my thesis a lot goes into this topic such as the linked idea below as well as other content analysis outside TradingView.
The market complexion has not changed only the pundits on television and those on CNBC telling people it is the bottom every other weak and they should buy now and keep buying if the price continues to fall. Nevertheless, many dynamics are at play with the markets today with contracting economics, average weekly hours trending lower, rising interest rates, etc.
But, besides all of that, I believe there will be a much greater decline in the high beta stocks later into the FY2022 and into the FY2023 where it will cause extreme levels of panic.
Also check out the TSLA and AAPL charts put out earlier as they may interest you (linked below as well).
When thinking of my thesis a lot goes into this topic such as the linked idea below as well as other content analysis outside TradingView.
The market complexion has not changed only the pundits on television and those on CNBC telling people it is the bottom every other weak and they should buy now and keep buying if the price continues to fall. Nevertheless, many dynamics are at play with the markets today with contracting economics, average weekly hours trending lower, rising interest rates, etc.
But, besides all of that, I believe there will be a much greater decline in the high beta stocks later into the FY2022 and into the FY2023 where it will cause extreme levels of panic.
Also check out the TSLA and AAPL charts put out earlier as they may interest you (linked below as well).
