SPY Market Breakdown - July 21st, 2020
As always please do your own research, I am not a financial advisor.
- Looking at the 2-Day chart of SPY, Major Divergence on the RSI
- Many trader think we've already seen the top, but we haven't even seen a retest of all-time high SPY prices yet.
- I'm thinking this red zone (marked distribution) is a good sell off zone, not only because it's the previous ATH price, but tops out because of the absence of buyers above there
- Trends tend to continue and currently we are on the path to retest ATH then from there we will re-evaluate.
- I expect the market to hit a new high around September-October , before the election , then the crash will begin to try and destroy the economy for the 2nd time.
As always please do your own research, I am not a financial advisor.
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Clause de non-responsabilité
Les informations et publications ne sont pas destinées à être, et ne constituent pas, des conseils ou recommandations financiers, d'investissement, de trading ou autres fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.