Simple look at SPY coming weeks

Asphen
08-11

Is this a rally or is it not? 

Much talk coming weeks will be whether the current rally will hold. 

Bull trap in the making? 

Turbulent Sept/Oct? 

Plenty of thesis and grand references, but i will stick to simplicity.

A correction up to possibly fib 38.2 and then dump for an equal or lower low for the full c wave formation. 

Note CPI coming week! 

Good luck, all! 

SPY Daily - 11th Aug 2024

@macroB  @Deposit  @CaptainTiger  @TigerStars  @Melson  

$SPDR S&P 500 ETF Trust(SPY)$  

$Invesco QQQ(QQQ)$  

Take Profit as S&P Hits 5800 or Hold Till 6000?
As the stock market hits record highs more than 40 times this year, there are concerns that history might repeat itself and another financial crisis could occur. ---------------- Will S&P 500 hit 6000 by year-end as institutions predict? Would you take profit and stay cautious ahead or hold till the year-end?
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Comments

  • Happiness.
    08-13
    Happiness.
    It’s painful to suffer slow and down market. But it’s a chance to buy dipper prices.
  • mster
    08-11
    mster
    Agreed Think it will likely met and rejected by the 50 EMA.
    • msterReplyAsphen: 
      Thanks for that reminder. 🙏
    • Asphen: 
      yeah.

      expecting a cool CPI on Wed. but this time, a cooling CPI will mean different.

      Falling rates will mean USD drop means Japan Carry Trade worse. So post CPI, even if cool inflation, note that it could trigger a sell off.

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