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zacrews

SPX Weekly Divergence ... Large Move In Either Direction

SPDR S&P 500 ETF TRUST (AMEX:SPY)  
zacrews Updated   
AMEX:SPY   SPDR S&P 500 ETF TRUST
Trend Analysis Chart Patterns Technical Indicators
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Being that there is a stimulus on the way by Mid-March, I believe we will see some pull back while money is hitting the bank accounts.

Value from the perspective of a 30 day average vs value from a 200 day average are certainly two different things.
Comment:
The full stimulus for families of four making up to 150k per year is $15,000 +/- over the next 15 months according to Bloomberg, around 50 Billion Dollars!

We also have tax season with most returns being in the bank by mid-April into May.

The point is...there is a ton of cash being fed into the market by MOSTLY unsophisticated investors over the next 90-120 days. Bags are likely to be distributed accordingly.
Comment:
Still 50/50 on whether this was a medium term top.
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