SPY – Are we done correcting ?

Hello traders,
Looking at the markets in this and last week, many traders ask themselves two basic questions this week:

  • Is the market in correction mode?
  • Is the market on a bearish cycle?

According to our models the market is in correction mode, so answer your question #1 is: Yes
We are definitely not in a bearish cycle, the market had a correction that is not anywhere near bearish talk, so the answer to question #2 is NO!

According to our forecasting models, we still have some more downside risk all the way to 315, in case the market reaches 315, equity valuations will be very attractive to many buyers and we forecast that a new up wave will start again.

Trade Safely,
Alon

SPY Are we done correcting ? , AlphaOverBeta Market Outlook by Alon_AOB on TradingView.com

Related Posts

Leave A Reply