Looking Forward SPY to bounce and sell.
Just throwing this idea out based on our levels, I think rate hike fear will take us back to the "fear-zone" of 375-380.
This will happen if the market is scared of a 50 pt rate hike and longer rate hikes causing a recession.
On March 16th we get the decision for a 50 pt hike or 25 pt. If we get the 50 point I think the market will enter full fear and sell off to the October low level (This is also where the measured move takes us for breaking this channel)
If we get some 25pts and the talk is dovish, and macro looks good we can go back up and resume the bull.
This will happen if the market is scared of a 50 pt rate hike and longer rate hikes causing a recession.
On March 16th we get the decision for a 50 pt hike or 25 pt. If we get the 50 point I think the market will enter full fear and sell off to the October low level (This is also where the measured move takes us for breaking this channel)
If we get some 25pts and the talk is dovish, and macro looks good we can go back up and resume the bull.
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