Updating my previous chart as we've continued higher over the last few weeks. Even though that's happened, it doesn't change my bias that we're at the top of the market and that we're about to see a 30-40% after we top.
I think over the next 2-3 weeks, we'll see one last push higher which will pull in more longs before dumping on them.
I think we're likely to top at around $472 and after that, the previous idea that I shared will play out.
I'll do another downside analysis on
SPY
if this move higher plays out. I've taken some calls in TSLA, NVDA, META and SPY to express this view.
I think over the next 2-3 weeks, we'll see one last push higher which will pull in more longs before dumping on them.
I think we're likely to top at around $472 and after that, the previous idea that I shared will play out.
I'll do another downside analysis on
SPY
if this move higher plays out. I've taken some calls in TSLA, NVDA, META and SPY to express this view.