January 21, 2020 admin

Is the SPY about to correct?

Hello traders,

The market continues to fly high without looking back, this is supported by a number of important factors such as the positive messages from the white house and china regarding phase I agreement and the future of the trade war, strong economic numbers , and some technical factors as well.

As we can see in the chart, the RSI has reached a peak above 70, this means that we are again slightly overbought and the market is about to face some range trading soon, this is a healthy move by the market as it prepares for a charge at our next milestone which is 345

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.

Trade Safely,

Is the SPY about to correct ? AlphaOverBeta Market Outlook by Alon_AOB on TradingView.com

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