SPDR S&P 500 (SPY): If the megaphone chart pattern plays out...

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Re: Sean Portman post# 316616

Saturday, 06/13/2020 10:36:05 AM

Saturday, June 13, 2020 10:36:05 AM

If the megaphone chart pattern plays out, S&P 500 is surely going to 2700-2500 again.

A break below March lows is possible just unlikely.
We have reached a point now where a Trump victory could lead to even more hatred ( I am a trump supporter) and a Biden victory leads to Republicans pulling their spending in and preparing for higher taxes and other destructive democratic policies.

Buying a good percentage of stock when S&P is above 3200 is a dangerous bet right now.

We are still in first wave of the virus.

The market got way too far ahead of itself..it may have overshot to the downside as well, but my gut says 2650-3850 is where the market should be

I AM THE ROCKS OF THE ETERNAL SHORE, CRASH UPON ME AND BE BROKEN

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