SPY $294 upward support line, otherwise next stop is $281
1) Very weak ADX trend.
2) Coronavirus fear
3) Mkt priced for an “extreme” best-case scenario
4) Mkt pricing in an “expected” rate cut leading to earnings growth
5) Investors being rather complacent and almost unfazed by coronavirus risk
This was a very unique scenario. All the variables aligning at once leading to the fastest correction in history!
2) Coronavirus fear
3) Mkt priced for an “extreme” best-case scenario
4) Mkt pricing in an “expected” rate cut leading to earnings growth
5) Investors being rather complacent and almost unfazed by coronavirus risk
This was a very unique scenario. All the variables aligning at once leading to the fastest correction in history!
