Good luck to the stock market. Short

AMEX:SPY1W

SPDR S&P 500 ETF TRUSTArca

Description

⋅ Mar 12, 2020 2:58 PM

Crossed the long term MA to the downside, I can see a big bounce up here only to be met with a big fall later on.

Chart Patterns

Comments

MrLotus

⋅ Mar 12, 2020 7:52 PM

Thanks for sharing your idea. But why do you say the real sell off will be in 3 months from now?

PickStockWinners

⋅ Mar 13, 2020 3:31 PM

Usually any sell off is met with support that takes us back to positive prices, but what depends at that point is whether the market continues in the positive direction or the biggest sell off occurs, the test of the market. Based on breaking long term 200 MA of weekly SPY to the downside, it is not looking good but the fundamentals could support this market, my bet is to the downside.