SPY Mirroring 2007 12% Correction Pre-GFC

8월 6일

The price action in SPY today mirrors the 12% correction in SPY in July - Oct 2007 pre-GFC market crash. Targeting $495-$500 on SPY as a near-term bottom after a quick pop up to $530-$535 in SPY. Then possibly rebound from $500 back to all time-highs, but if we fall through the floor, then we should see $400 on SPY.