SLOPolarBear

SPY - Sleep Aid for Bears

Kort
AMEX:SPY   SPDR S&P 500 ETF TRUST
I expect this pattern will take about (6) months to develop. There's a lot of denial going around these days, and I think that has contributed to numerous traders (say, half the country?) eager to put us back into that bullish ascending channel where we were up until Covid-19 arrived. The other half of us are gazing at these charts shaking our heads in disbelief; the fundamentals just don't line up. But fortunately, neither do the technical indicators. If you scroll back to the Dot-Com crash and Global Financial Crisis crash you'll see a common pattern. Outside of this pattern, it's difficult to imagine a breakout about $361 (in the near term), but anything is possible. Keep those stops tight and happy trading.
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