$SPY - CONTRARIAN VIEW -
Added 2025-04-24 12:44:14 +0000 UTCJust sharing this again for those who believe this structure is the current structure for the market.
My view on this is that you are assuming that the the bottom of Wave 1 started at the Covid Crash low in 2020 and NOT the 2009 GFC low.
There are arguments for both sides.
My opinion is that the market is likely moving in accordance to our regular chart that I upload for $SPY and that is mainly down to the high levels of uncertainty due to the Tariff War.
The longer the Tariff War continues, the higher the chances of a recession in the US.
A recession will damage earnings and there will be contractions, the charts will therefore reflect this.
For now, the best way to manage this is to see how the price action behaves at the 50 WMA at $566.
What is clear, is that there is risk in the market right now and aimless buying is not the right approach right now.
Comments
Thanks for this view. 👍
John McCarthy
2025-04-25 11:53:47 +0000 UTCI’m hoping for wave B target to trim and de-risk! Thanks for the charts!
Bryce P
2025-04-24 13:56:18 +0000 UTC
