WVS_Stockscreen

SPY - SP500 - med term top imminent

AMEX:SPY   SPDR S&P 500 ETF TRUST
I believe the stars are aligning for a decent med term short for stonks.

Fundamentals are poor - inflation and rates higher for longer (not factored into earnings yet).

Sentiment is extreme - note recent sentiment surveys all extremely bullish (greed) contrary to market perception.

Bears have been capitulating - note short covering rallies (stopped out) in heavily shorted names.

Technically SPY looks like an irregular B or X wave consolidation before heading lower. (RTY looks like a classic triangle consolidation B/X wave).

Short 4300, stop 4450, looking for 3800 or lower (4 to 1 R/R) coming weeks/months.

NOT INVESTMENT ADVICE

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