S&P-500 - time to be cautious, not excited

٢٤ أغسطس ٢٠٢٠

With new ATH in TVC:SPX and AMEX:SPY , it is worth to remember that since 2018 such highs are later followed by new lows inside the broadening pattern.

In fact, with current state of macro and fundamentals, new lows (price going ~40% lower!!!) would not be so surprising, and if history is a guide it can happen fast as well. Therefore, buyer beware!