Stay LONG SPY
2021 was a great year for Spy, and as I write this right after watching the ball drop, it closed the year up a whopping 27%. With this being said, the past week for spy has been a choppy one for sure after the previous week having a rise of about 5.5% (give or take a few points). Although it's choppy, it remains inside the yearly bull channel. For the upcoming months, I predict that it will remain in this channel and volatility will pick up, due in part to the up coming "rate hikes" by the fed in March 2022. Classic case of buy the rumor, sell the news (the rise until March 2022 being "buy the rumor"). I believe that in March of 2022, IF the fed decides to actually follow through with their plans of rate hikes, the market has a possible chance of turning to the downside ("sell the news"). However, until we see what the fed will do, I believe the market will continue to run in the bulls favor. Of course there will be ups and downs. I just believe there will be more ups than downs as we've seen in the previous year. Happy and a healthy New Year to all! Lets get after it!
Catatan
Broke the ATH yesterday.
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