$SPDR S&P 500 ETF (SPY.US)$ Just a reminder that on July 16t...
$SPDR S&P 500 ETF (SPY.US)$ Just a reminder that on July 16th market participants thought we were going to just keep making new ATHs. By August 5th, most thought Armageddon was upon us, and by August 30th mentality was back to "Yay, new ATHs, the bull market lives on!"
Things can change FAST in the markets with the right catalyst.
Last month we ended with a slightly lower high. For the bulls, this month still has the potential to make a higher high at best, or a higher low at worst. We are in a bull trend until proven otherwise.
I fully believe we are in recession, but until the market is fully convinced of it we could still continue higher. And if the market believes, or if the Fed confirms a bailout, often referred to as the "Fed put," the market could blast to new ATHS due to increased liquidity. Relatively speaking, so far this could still be considered a pullback, at least until the August 5th low is broken and held below, IMO. This would also place SPY below the monthly 10 SMA.
Full disclosure: I am positioned very bearishly, but I also know that markets can remain irrational for an indefinite period of time.
Best of luck, and God bless!
Things can change FAST in the markets with the right catalyst.
Last month we ended with a slightly lower high. For the bulls, this month still has the potential to make a higher high at best, or a higher low at worst. We are in a bull trend until proven otherwise.
I fully believe we are in recession, but until the market is fully convinced of it we could still continue higher. And if the market believes, or if the Fed confirms a bailout, often referred to as the "Fed put," the market could blast to new ATHS due to increased liquidity. Relatively speaking, so far this could still be considered a pullback, at least until the August 5th low is broken and held below, IMO. This would also place SPY below the monthly 10 SMA.
Full disclosure: I am positioned very bearishly, but I also know that markets can remain irrational for an indefinite period of time.
Best of luck, and God bless!
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only.
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Just a dude highly interested in the financial markets who wants to share helpful info along the journey.
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101834723 : Totally agree, “markets can remain irrational for an indefinite period of time”, so the question is who is more irrational and crazy market or people who willingly loose there hard earn money everyday??
Derpy Trades OP 101834723 : Very true! Another relevant quote is, "Do you want to be right, or do you want to make money?"