Is SPY behaving identically to what happened in November 1973?
Ok hear me out, I believe that today's price action in the year 2023 is eerily similar to what has happened in November 1973. I am not saying that is what will happen today but I can't shake the feeling that this is what will likely happen.
Note
Today's price action in the year 2023Note
After the triangle broke in 1973 a massive 40% drop ensued.Note
The same 40% drop today would take us to the monthly 200sma
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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.