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Revisiting my "Could it be this easy?" post from 08/25/23

DISCLAIMER Please view previous idea posted on 08/25/23 for comparison to what I'm referencing. Well...hindsight is always 20/20 isn't it? I was partially right on AMEX:SPY forming a head and shoulders pattern but with the tech sector being strong and people optimistic on fed pausing/cutting rates bulls have been buying every dip the last two weeks giving us weird trading conditions. Honestly, I didn't expect such a strong push back up over the last month. Personally, AMEX:SPY needs to cross 462 for me to be more confident we'll approach all-time highs. Relatively speaking the market is pretty top heavy and over extended, it's only natural that a solid pullback occurs sooner than later. What must go up must come down and will go up again.

Ciprotab

Nov 24, 2023 - 04:35

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Revisiting my "Could it be this easy?" post from 08/25/23

SPDR S&P 500 ETF TRUST BATS:SPY

EBMVI610

***DISCLAIMER***
Please view previous idea posted on 08/25/23 for comparison to what I'm referencing.

Well...hindsight is always 20/20 isn't it?
I was partially right on SPY forming a head and shoulders pattern but with the tech sector being strong and people optimistic on fed pausing/cutting rates bulls have been buying every dip the last two weeks giving us weird trading conditions. Honestly, I didn't expect such a strong push back up over the last month.
Personally, SPY needs to cross 462 for me to be more confident we'll approach all-time highs. Relatively speaking the market is pretty top heavy and over extended, it's only natural that a solid pullback occurs sooner than later. What must go up must come down and will go up again.