Bullish Momentum in SPY: Limited Gains Expected Amidst Overheated Uptrend, Potential Bearish zone Turn Ahead Two weeks from now.
The daily chart of SPY has entered the Bullish zone, marking the beginning of a strong uptrend. However, in the short term, we anticipate limited gains and brief correction periods due to the overheated upward movement. It is expected to continue this way until the end of this week or early next week, after which a robust upward trend is anticipated. This strong upward movement and minor corrections within the Bullish zone are likely to persist until next week, but afterward, there is a high probability of entering the Bearish zone, increasing the risk of a decline. Oct 09, 2023 ◆ Closed price 432.29 0.64% ◆ Appropriate Investment Position: Bullish-Buy [Long-term strategy] ◆ Today's stock price Buy-Sell intensity analysis The current trend appears to be 'Uptrend'. The OPEN-price started with a stronger decline rate than the current trend and The HIGH and LOW prices are showing an appropriate HIGH-price to the current trend and a stronger LOW-price Finally, the CL