What Bears are looking for SPY
Well I have been fairly bear biased, and it has been costly since the bulls have been in complete control this year, the market is up almost 20% this year which is Bananas.
I do think that we are in for a cool-off though because we are now at the March 2022 high, and from here the only place to go besides down for a re-test is the all time high.
Are markets ready for all time high or are they ready for a retest and accumulation?
I think there is more risk today than there was 2 years ago, rates have gone way up and we are going to be getting another 25pt hike in the upcoming week also the yield curve is totally whack.
There are some technical indicators which look like they could foreshadow a pullback so I am holding on to my short positions.
Good Luck.
Just rambling and drawing.
I do think that we are in for a cool-off though because we are now at the March 2022 high, and from here the only place to go besides down for a re-test is the all time high.
Are markets ready for all time high or are they ready for a retest and accumulation?
I think there is more risk today than there was 2 years ago, rates have gone way up and we are going to be getting another 25pt hike in the upcoming week also the yield curve is totally whack.
There are some technical indicators which look like they could foreshadow a pullback so I am holding on to my short positions.
Good Luck.
Just rambling and drawing.
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