TopgOptions

SPY S&P 500 ETF Bullish Ahead of Midterm Elections

Long
AMEX:SPY   SPDR S&P 500 ETF TRUST
Wasn`t it strange to see META losing 25% and AMZN 20% in one week, yet the SPX S&P 500 still being bullish?! :)
I told you in the previews chart, because of the Midterm Elections:

In every country is the same, politicians in power try to keep the markets optimistic ahead of elections to get more votes, because the economy is doing great thanks to them.
I wouldn`t be surprised to see the SPY S&P 500 ETF touch the psychological price of $400 days before the vote, while televisions talk about a potential reversal.
So we still have 8 days of unexpected bullish market while the earnings of the companies reporting are lower.

And don`t get frustrated to see that this was another bear market rally and the SPY will touch the $338 Pre-Lockdown level before Christmas.

Looking forward to read your opinion about it!

Wyłączenie odpowiedzialności

Informacje i publikacje przygotowane przez TradingView lub jego użytkowników, prezentowane na tej stronie, nie stanowią rekomendacji ani porad handlowych, inwestycyjnych i finansowych i nie powinny być w ten sposób traktowane ani wykorzystywane. Więcej informacji na ten temat znajdziesz w naszym Regulaminie.