I just make simple technical charts, and have no idea about matters at play from leaders in plain sight as well as those behind the curtains.
Things can only crash when they have been inflated. So far SPY is still in long term uptrend. Only when it drops below the thick blue lower line and stay below, it will be a down trend to me.
RSI on the daily hangs around 23. Switch to the monthly chart and the RSI is only at 50 yet. Plenty of room to go down! Remember, the all time highs of 2021 and 2023 were around 450. Fridays close was at 505!
Things can only crash when they have been inflated. So far SPY is still in long term uptrend. Only when it drops below the thick blue lower line and stay below, it will be a down trend to me.
RSI on the daily hangs around 23. Switch to the monthly chart and the RSI is only at 50 yet. Plenty of room to go down! Remember, the all time highs of 2021 and 2023 were around 450. Fridays close was at 505!
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.