Im a little bit torn in the potential outcome of the market for the next few months. There are a few major considerations that I have when viewing differences in certain charts that almost contradict some of the ideas I may have for upcoming trades.
One thing at the back of my mind has me thinking that the bottom of the market has not been seen just yet, and we will likely retest the pre - covid level on the SPY / SPX before moving higher.
However, if we take a look at charts such as TQQQ and SQQQ, we can see that these ETF's have already seen a massive collapse and broken through pre-covid levels, inevitably finding support at a weekly trend line before making its way back up while respecting current fib levels.
Additionally, SQQQ has seen the lowest price to date without the market reaching an all time high. Are these potentially giving us a hint to where the market may move?
On the long term, I am leaning more bullish unless we see some kind of Black Swan event that will trigger a fast flush , and potentially even enough to change the course of the FED policy before we see the larger move for the next business cycle.
One thing at the back of my mind has me thinking that the bottom of the market has not been seen just yet, and we will likely retest the pre - covid level on the SPY / SPX before moving higher.
However, if we take a look at charts such as TQQQ and SQQQ, we can see that these ETF's have already seen a massive collapse and broken through pre-covid levels, inevitably finding support at a weekly trend line before making its way back up while respecting current fib levels.
Additionally, SQQQ has seen the lowest price to date without the market reaching an all time high. Are these potentially giving us a hint to where the market may move?
On the long term, I am leaning more bullish unless we see some kind of Black Swan event that will trigger a fast flush , and potentially even enough to change the course of the FED policy before we see the larger move for the next business cycle.