SPY. Long Tem Uptrend
A simple chart showing the trajectory SPY has been on for the last 20 years. We frequently find basing support along a rising 200 wk average, along with a near perfect parabolic support curve. The green arrows demonstrate that a basing period that finds support along this 200 period line tends to precede a general uptrend lasting 2-3 years. Would not be surprised if the current rally lasts till the end of 2024, but of course nothing goes straight up and there will be a few 10-12% corrections along the way.
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