$SPY — Market Forecast, 12/18/21
We closed out last week with a spinning top on an increase in volume.
I actually think we have to go a bit higher to fill that slightly-open gap to the upside before we pull back.
Not all markets are going to be trading in sync, so pick and choose which positions you want and be careful with how you’re spreading the market in this particular point in time.
So my initial price target is an upside move to $465, before a pullback down to $455 and this being a two-part forecast puts the target date just before the new year.
I actually think we have to go a bit higher to fill that slightly-open gap to the upside before we pull back.
Not all markets are going to be trading in sync, so pick and choose which positions you want and be careful with how you’re spreading the market in this particular point in time.
So my initial price target is an upside move to $465, before a pullback down to $455 and this being a two-part forecast puts the target date just before the new year.
Komentarz:
Upside price target has been hit, we will see if we trend lower next week.