Potential future of the market: $SPY, $QQQ, $IWM, $DIA
As the market continues to edge lower, its familiarity echoes that of the 2008 Great Recession and the 2000 Dot.com bubble. The video illustrates a technical analysis conducted on 2022 market conditions compared to 2008 and 2000.
The start of the Bearish Engulfing in the early months of all three years begins the lower lows or bearish trend trading below the "MEAN" or 21 Exponential Moving Average (EMA). With some many geopolitical unrests around the world, including a war not letting off in Europe, tensions between two superpowers (USA / China), and COVID continuing to affect China's economy, I am led to believe that we will retest the September lows in the months to come.
What will we see in the months can surprise us both but I don't see the market healing and heading higher soon.
I am trading options with Put Debit Spreads out to JUNE 30, 2023.
The start of the Bearish Engulfing in the early months of all three years begins the lower lows or bearish trend trading below the "MEAN" or 21 Exponential Moving Average (EMA). With some many geopolitical unrests around the world, including a war not letting off in Europe, tensions between two superpowers (USA / China), and COVID continuing to affect China's economy, I am led to believe that we will retest the September lows in the months to come.
What will we see in the months can surprise us both but I don't see the market healing and heading higher soon.
I am trading options with Put Debit Spreads out to JUNE 30, 2023.
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