SPY Stonks Forecast - Using THE MOST Accurate Indicator๐ฏ
Hi Traders, Investors and Speculators
Ev here. Been trading crypto since 2017 and later got into stocks. I have 3 board exams on financial markets and studied economics from a top tier university for a year. Daytime job - Math Teacher. ๐ฉ๐ซ
To correctly identify the macro phase is to have power - this will eliminate fear and greed, and cancel out the noise you hear from news and "influencers". Looking at SPY, we can clearly identify a bearish trend as the market loses an important support zone and makes lower highs. By using the S&P 500 or the VTI , you can more easily spot the macro trend of the stock market, and which way MOST of the stocks will go.
After doing a Fibonacci retracement analysis on the chart, we can see that a major support zone has been lost. Next, technical indicators become useful. By using Phoenix Ascending together with Bollinger Bands, the best of the technical indicators are combined as the Phoenix Ascending includes the RSI, EMA, LSMA and the momentum. All of the prior mentioned are pointing towards more bearish price action in the next few weeks to come. This will link up with an idea on the SPY that I made weeks ago by including the Wyckoff Method to find a potential bottom after the bearish markets:
My view has not changed, since market fundamentals remain overall bearish. This however, does make a great time for accumulation. So sack up on those favorite stonks and await the bullish markets to take profits !
Interested in my view on Bitcoin? ๐
_______________________
๐ขFollow us here on TradingView for daily updates and trade ideas on crypto , stocks and commodities ๐Hit like & Follow ๐
We thank you for your support !
CryptoCheck
Ev here. Been trading crypto since 2017 and later got into stocks. I have 3 board exams on financial markets and studied economics from a top tier university for a year. Daytime job - Math Teacher. ๐ฉ๐ซ
To correctly identify the macro phase is to have power - this will eliminate fear and greed, and cancel out the noise you hear from news and "influencers". Looking at SPY, we can clearly identify a bearish trend as the market loses an important support zone and makes lower highs. By using the S&P 500 or the VTI , you can more easily spot the macro trend of the stock market, and which way MOST of the stocks will go.
After doing a Fibonacci retracement analysis on the chart, we can see that a major support zone has been lost. Next, technical indicators become useful. By using Phoenix Ascending together with Bollinger Bands, the best of the technical indicators are combined as the Phoenix Ascending includes the RSI, EMA, LSMA and the momentum. All of the prior mentioned are pointing towards more bearish price action in the next few weeks to come. This will link up with an idea on the SPY that I made weeks ago by including the Wyckoff Method to find a potential bottom after the bearish markets:
My view has not changed, since market fundamentals remain overall bearish. This however, does make a great time for accumulation. So sack up on those favorite stonks and await the bullish markets to take profits !
Interested in my view on Bitcoin? ๐
_______________________
๐ขFollow us here on TradingView for daily updates and trade ideas on crypto , stocks and commodities ๐Hit like & Follow ๐
We thank you for your support !
CryptoCheck
