The quick rally of last week was quite impressive, but what I see is still quick-rise-slow-drop type price action, which is a typical bear market behavior.
Therefore I feel my bear market thesis is actually validated and expecting to see a drop in the coming week. But this market looks like a weak bearish trending market, so even this time we might not dip below to, I think we will dip to around 400 (maybe 398).
Therefore I feel my bear market thesis is actually validated and expecting to see a drop in the coming week. But this market looks like a weak bearish trending market, so even this time we might not dip below to, I think we will dip to around 400 (maybe 398).
Comment:
For the upper bound I think SPY probably will touch 200 day MA which is about 456 then head down.
Comment:
Meant to say "so even this time we might not dip to 380"