SPY and the upcoming Imo

١٢ نوفمبر ٢٠٢٢

With the recent bear market rally in full effect. I am expecting a test of the top trendline from here. We have a clear 3 falling peak pattern and looking for the last lower high before the next lower low. Yes inflation data was better than expected! Though it still is not good and the economy is going to feel the full effects starting next year imo. so on my chart is where I think we might go. in the next few months. though I wouldn't doubt that we can get a Santa rally and extend a little higher before the next leg down. depending on economic data and fed rates in December. The trend is your friend till it isn't play safe this is just a opinion of mine.