SPY: IN NO MANS LAND
In terms of sentiment, I would say it's safe to say the markets are no doubt fearful already...
I know a lot of retail is already short on a lot of momentum stocks.
therefore: I expect one last bear trap until capitulation...
(we might gap down mon-tues but I do expect a good sized bounce soon)
how high? No idea. Maybe all time high's leading into 2021, maybe a re test of 330-336ish till failure..? Like I said: No idea
In my opinion, the credit cycle is really what matters here, not the election. That's what I have been watching closely lately
I am mostly cash right now looking for a place to set up for the next pivot
GL!
I know a lot of retail is already short on a lot of momentum stocks.
therefore: I expect one last bear trap until capitulation...
(we might gap down mon-tues but I do expect a good sized bounce soon)
how high? No idea. Maybe all time high's leading into 2021, maybe a re test of 330-336ish till failure..? Like I said: No idea
In my opinion, the credit cycle is really what matters here, not the election. That's what I have been watching closely lately
I am mostly cash right now looking for a place to set up for the next pivot
GL!
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