SPY: Doom and gloom
Looks like we are at long term resistance. it is getting rejected multiple times.
We already reached 1.61 level, we might retrace back 50% to $455 or $413.
Look at the negative divergence in long term RSI, that's bearish.
Any new ATH can be shorted I guess.
As rates are coming down, we might make one more ATH and then we might retrace back to the support in the upcoming recession.
New ATH is in the cards, but not written.
Trading is better than investing as of now.
If long term support breaks, I guess that's going to trigger a atleast 30% draw down from the peak. We still have time for that I guess.
Cheers
SPY
We already reached 1.61 level, we might retrace back 50% to $455 or $413.
Look at the negative divergence in long term RSI, that's bearish.
Any new ATH can be shorted I guess.
As rates are coming down, we might make one more ATH and then we might retrace back to the support in the upcoming recession.
New ATH is in the cards, but not written.
Trading is better than investing as of now.
If long term support breaks, I guess that's going to trigger a atleast 30% draw down from the peak. We still have time for that I guess.
Cheers
SPY 
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