SPY approaching key levels, a very high possibility of a sell off incoming.
Recession is almost here.
Recession is almost here.
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Job report came out strong today, hence the slight sell off. Strong jobs means green light on rate hikes, which means deflating SPY.
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So, SPY is forming a beautiful M-shaped reversal pattern, but of course it will not be confirmed until 373 support is taken out.
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I have reduced my position size by half, it looks like the market is not convinced to sell off. We'll see where we stand following the CPI report.