SPY-Losing some momentum

In this week post, we display the volatility levels of the current market and the forecasted direction of it, as we earlier forecasted, the market is in a bullish bias and may continue the current bullish direction at least until this year’s end, the reasons are in this market outlook by our research teamvolatility levels are high and the market seems to have lost some steam last week, we predict that the volatility levels will remain high for the upcoming months but, as we said earlier, we do see this bullish momentum continues as our forecast for the market for the short-medium term is 320-325 levels, Fibonacci played it’s part last week and set the correction levels in place, plus the all-time-high of 315 is still a short term resistance hanging over the market.

To conclude, 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.

BTW, 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-Losing some momentum , AlphaOverBeat Market Outlook by Alon_AOB on TradingView.com

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