I am bearish if the SPY hits this target again.
Not long term though. Jerome Powell is telling us that this is not a financial crisis but a health care crisis. This is not true when many people aren't paying on their largest assets or unable to pay for it. Banks will feel it and so will we. (and other reasons I won't list here)
This won't be impending doom though. I'm expecting it to hit its previous high or right around it before it falls to 0.236 level on the Fib which is also where 200 EMA is.
Don't be drastically affected by the Black Swan that could be coming just around the corner. Right now things are propped up with stimulus checks and massive amounts of unemployment.
Not long term though. Jerome Powell is telling us that this is not a financial crisis but a health care crisis. This is not true when many people aren't paying on their largest assets or unable to pay for it. Banks will feel it and so will we. (and other reasons I won't list here)
This won't be impending doom though. I'm expecting it to hit its previous high or right around it before it falls to 0.236 level on the Fib which is also where 200 EMA is.
Don't be drastically affected by the Black Swan that could be coming just around the corner. Right now things are propped up with stimulus checks and massive amounts of unemployment.