Bootrade
2022-01-25

Recently the market has seen a 11% drop $S&P500 ETF(SPY)$mainly due to hawkish fed decision on increasing interest rate, poor Q4 growth on large companies, 2 weeks of consecutive of raising unemployment claims and the raising tension on Russia - Ukraine sending stocks lower. FOMC will be announcing interest rate on the Wednesday, can wesee a dovish tone from Fed with the recent events? The current technical analysis shows greater risk reward holding on to 4275 as S&P 50 days moving average is well oversold at 24 range. If it holds up well Bitcoin maystart it’s run after 50% drop from ATH as previous history shows BTC outperform S&P500 $ProShares Bitcoin Strategy ETF(BITO)$What are your views on the current market conditions? 

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Comments

  • Bobatea
    2022-01-25
    Bobatea
    Good time to buy into SPY?
    • Bootrade
      The fear ongoing tension between russia and ukraine still linger in the market and the upcoming FOMC nearing. Earlier today JPMorgan has off load long position due to global uncertainty.
    • Bootrade
      FOMC on wednesday will be an indication moving forward with recent events and the economic data.
  • MehmehZ
    2022-02-15
    MehmehZ
    [Cry]
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