SPY long term analysis

December 31, 2019
December 31, 2019 admin

Hello traders,

As we have forecasted in previous posts, the SPY had reached the 320 levels, SPY is in correction mode after a few days where the market was overbought for a while with lower lows on the Volume MA20, The 4 hours chart of the RSI showed high levels of overbought and so we have the anticipated correction, which, once again is a GOOD thing since it is a sign of a healthy market.
We see this correction reaching the 318 levels and then moving upwards from there.

Technically, we have lost some momentum, as expected in these market conditions of all-time-high but for the longer term, we are still bullish with higher price target.

This is the perfect market to cherry-pick investment assets as this market hides the real gems that may fly as the market stays in consolidation mode.

Interested in cherry-picking? see this! use our service to your benefit.

Trade Safely,
Alon

SPY long term analysis , AlphaOverBeta Market Outlook by Alon_AOB on TradingView.com

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