TanzirHasan

We might see a correction of "SPY" to 360 level

AMEX:SPY   SPDR S&P 500 ETF TRUST
SPY , ETF of S&P 500 might decrease to around 360 level to fill up the gap of daily RSI Divergence. Besides Bitcoin will touch $40,000 level. We might see the correction in a very short time. After that market might enter into the final Elliot Wave and SPY might move to 425 level. We might see this rally from the last week of March to 3 rd week of May. When people go to normal working life, Fund will start to flow to real economoy from the capital market. Besides maximum stocks are currently over valued. At the level of 425 of SPY , overall Market PE, Price/Sales and all other ratios will be almost highest.You can check those numbers. Historically at thos time market see a major correction.All these factors might force the market to make a big correction.The SPY might come down to 280 levels where we were before panademic. 280 level will be the Monthly EMA 8 days Support. Besides 280 level will fill up the gap of Weekly/monthly RSI divergence. Then the market might see a long term side ways movement until the corporate earnings show strong positive results! You can check my previous prediction. Recently I called to short qqq upto 300 level. At the time of pandemic I appropriately predicted when the correction was over.

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Thanks for this
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