Bear Market Rally Prediction
Here is a short term prediction for a short lived bull rally on SPY. It will bounce around the 220-240 levels for a week or so before breaking below and continuing lower to the downside.
Short term good news on the economic stimulus package etc will give the market a slight boost, (many will be trying to "buy the dip" after the huge 4 week sell-off) although the underlying market conditions will remain the same regarding the increase in COVID-19 cases and contraction of businesses (primarily retail/service industry), which cannot be combated effectively enough for the market to have a major bounce back. Unfortunately, the bears will prevail.
Short term good news on the economic stimulus package etc will give the market a slight boost, (many will be trying to "buy the dip" after the huge 4 week sell-off) although the underlying market conditions will remain the same regarding the increase in COVID-19 cases and contraction of businesses (primarily retail/service industry), which cannot be combated effectively enough for the market to have a major bounce back. Unfortunately, the bears will prevail.
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