$SPY - Predictions for the week of 5/9

​ 1 Week Chart 5th red week in a row? After a rejection from the support and now resistance level SPY only closed down 0.2% this week. ​ 1 Day Chart After some pretty wild swings, the RSI is showing some more buying pressure with bullish movement. Resistance ~452 ~432 Support ~395 ~405 KEY LEVELS -- 400 --405 ​ 1 Day Chart VIX is clearly entering a downtrend here, especially with the unusually high volume this week I am expecting volatility to decrease. ​ 1 Month Chart The bond market is slowly approaching the oh no line which has historically been an indicator of the market turnaround into a 🐻 cycle. ​ 1 Month Chart ​ I Bond Yields Predictions What we saw on Thursday is a sign of what is to come. I am almost positive that a majority of the selling was caused by a single firm just selling everything on their books. Everyone is so bearish right now, everyone on Twitter is screaming like the market is about to fall 50% next week... I am definitely bearish but I play the market day by day. A bear market rally is almost guaranteed now even with inflation data being released. I bonds are currently yielding 9.62%, which is a record level. It is not a huge surprise that inflation will be reported above 9.4% so the reported number is already going to be priced in. Other countries are starting to see major issues with inflation and the global economy is starting to slow. Even though the entire economy is coming to a halt this week will still be green 😂. There will always be some bull traps before the big crash... that's what makes it a big crash. I believe we still have a few more weeks before this gets really bad. I will make my portfolio at least 75% cash before the end of May, you can take my word on that. That 75% cash will be put into UVXY before this crash happens. TLDR - Everyone is too bearish, prepare for a bull trap ​ https://preview.redd.it/j8uigqk4y3y81.png?width=1281&format=png&auto=webp&s=cc1282d2e0c6cf2ac35424204212d5e52cd6c2df I will respond to every comment!

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$SPY - Predictions for the week of 5/9

May 8, 2022

bullish

general Analysis

[1 min Read]

1 Week Chart

5th red week in a row? After a rejection from the support and now resistance level SPY only closed down 0.2% this week.

1 Day Chart

After some pretty wild swings, the RSI is showing some more buying pressure with bullish movement.

Resistance ~452 ~432

Support ~395 ~405

KEY LEVELS -- 400 --405

1 Day Chart

VIX is clearly entering a downtrend here, especially with the unusually high volume this week I am expecting volatility to decrease.

1 Month Chart

The bond market is slowly approaching the oh no line which has historically been an indicator of the market turnaround into a 🐻 cycle.

1 Month Chart

I Bond Yields

Predictions

What we saw on Thursday is a sign of what is to come. I am almost positive that a majority of the selling was caused by a single firm just selling everything on their books.

Everyone is so bearish right now, everyone on Twitter is screaming like the market is about to fall 50% next week... I am definitely bearish but I play the market day by day. A bear market rally is almost guaranteed now even with inflation data being released. I bonds are currently yielding 9.62%, which is a record level. It is not a huge surprise that inflation will be reported above 9.4% so the reported number is already going to be priced in. Other countries are starting to see major issues with inflation and the global economy is starting to slow.

Even though the entire economy is coming to a halt this week will still be green 😂. There will always be some bull traps before the big crash... that's what makes it a big crash.

I believe we still have a few more weeks before this gets really bad. I will make my portfolio at least 75% cash before the end of May, you can take my word on that. That 75% cash will be put into UVXY before this crash happens.

TLDR - Everyone is too bearish, prepare for a bull trap



I will respond to every comment!

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SPY

SPDR S&P 500 ETF Trust

381.26

0.02
0.01%

Return

-7.03%
Change % Since Posting
-28.84
Change Since Posting
410.10
Price When Posted

Metrics

451.11
Target Price
5/ 10
Confidence
1-2 Weeks
Timeframe
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