SPDR S&P 500 ETF Stock Discussion

Tonyco : Goldman Sachs is a terrible source for anything.
The firm has consistently missed the mark with its projections for the S&P 500's yearly performance.
Over the past five years, Goldman Sachs has been at least 10% off in its year-end projections for the S&P 500, with the average forecast falling 14% short.
In 2020, 2021, and 2022, Goldman's predictions for the S&P 500's closing value were off by 10%, 11%, and 24% respectively.
Take what they say with grain of salt.

Tonyco : A study analyzing 6,627 forecasts made by 68 forecasters found that only 48% of forecasts were correct, with the majority performing at levels not significantly different from chance
The Terrible Track Record of Wall Street Forecasts
"Abbey Joseph Cohen, formerly a partner and chief U.S. investment strategist at Goldman Sachs, fared even worse.  Her accuracy rating was only 35%, well below the average of 47%."

WarlockofWallstreet OP Tonyco : I generally see it as an inverse Cramer and a potential signal for an upside. They know the average investor will follow articles and will potentially sell. I still recall SBNY when it was 0.0003$. every news outlet, law firm, broker, and bank said it's over, and it's never going back up. I loaded up lol, and it went up 23000% a few months later. they all have a conflict of interest if you make

WarlockofWallstreet OP : there are two ways I see this.
1) potential short term over reaction of retail, which brings price down.
2) potential long-term bulish reversal

Ultratech : they've been saying that for years

PrimeD : Perhaps a small dip but will probably still run up in a few weeks

Fredo in the cut OP : NFA of course but id play the 592 calls on friday if we look good

WarlockofWallstreet : Im with you on this call, my only concern is VIX being so volatile.I belive it still might move up another 13% ish . Now the one thing I am not sure of, is will it go up or down first. Given the Gravestone red Doji on the daily id assume down would preceed the upwards movement which  coincides with what you say as well, but sucks for me as my puts expire before my calls (I am only speculating here.)

无念 : There is no rebound here, so we can't confirm if it is a head and shoulders pattern.

Sg-Jin : why so bullish ? i predict it be in 400s soon enough. economic indicators screaming recession

WarlockofWallstreet : I feel ya. I was up 1800, and then the baby started throwing a tantrum. By the time I looked back, it was gone. I hate trading after 1030 it's all over the place, and you get trapped, but here I am!  Hopefully, it runs, we had a full red candle yesterday and a green doji today, but who knows. time me it looks.more bearish.