SPY predictions for the upcoming days.

2 feb 2022

Seeing as there is no Fed meeting tomorrow (from what I have seen), I don't believe there will be excessive volatility tomorrow. The money flow has been primarily bullish and there are no important volume levels we're facing. We are, however, at the .618 fib level. We are currently above the 21 EMA + VWAP. I believe that if we are able to push above the .618 level that is being respected as a resistance currently we will continue to see a strong uptrend. Fears of the market crashing are vanishing as the trend continues, and GOOGL smashed earnings which could also add some confidence to retail buyers. Personally, I have been swing trading and day trading FNGU + UPRO and enjoyed the large gains, especially in the 3x FANG+ ETF today. Good luck to all, and happy trading!

[none of this is financial advice, just an analysis and opinion]