We identified a top formation in SPY, expecting it to be a major top. It has played out well.
However, the nature of fall hasn't been in line with expectations - signalling that there's inherent strength in market.
This has forced me to reconsider my counts. Looking for another 10-15% upside in the index now.
Reason:
1. Despite geopolitical uncertainty it has held up well
2. Trump govt wouldn't want it to fall at least till mid terms (Nov 2026).
However, the nature of fall hasn't been in line with expectations - signalling that there's inherent strength in market.
This has forced me to reconsider my counts. Looking for another 10-15% upside in the index now.
Reason:
1. Despite geopolitical uncertainty it has held up well
2. Trump govt wouldn't want it to fall at least till mid terms (Nov 2026).
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.