Bubblelicious. Just keep in mind the Musical chair game.
We have been in a bullish market, one of the most loved and hated bull markets in history, the reason is basically because the so called “Correction” doesn’t seem to appear anywhere and investors don’t want to get caught off guard when it happens. Nobody can predict the future, but at least we can foresee where are the key levels where a reversal or continuation could happen.
There is a historic channel and the pivot point for this is located at 185 around April-May this year. The SP500 was able to breakout and made it to the upper side, Now the market keeps on growing and growing fueled by QE and 0 interest rates.
Key levels to watch for, 205 on the $SPY and around 2050 on the SPX which are levels where the 1.618 Fib level will be reached, this is important because this is a strong Resistance to the upside. So the so called correction is likely to happen when that level is reached by the end of the year after the Santa Claus Rally, if the market doesn’t say otherwise.
So keep on dancing as long as the music plays, but keep in mind this is the musical chairs game.
There is a historic channel and the pivot point for this is located at 185 around April-May this year. The SP500 was able to breakout and made it to the upper side, Now the market keeps on growing and growing fueled by QE and 0 interest rates.
Key levels to watch for, 205 on the $SPY and around 2050 on the SPX which are levels where the 1.618 Fib level will be reached, this is important because this is a strong Resistance to the upside. So the so called correction is likely to happen when that level is reached by the end of the year after the Santa Claus Rally, if the market doesn’t say otherwise.
So keep on dancing as long as the music plays, but keep in mind this is the musical chairs game.
