Don't try to count the top when it is blue sky.
I have learnt the hard way to count the top with the mkt on the fundamental bias.
The blue sky is powerful and it is hard to count when it will top out until we see the sign.
However, bias on the last blue sky breakout. Spy went up almost 6% and then pull back 10% approx. So based on recent history, spy should be able to get to approx 283/284 then have a 10% pullback. Overall the daily and weekly chart is super duper bullish unless there is another black swan event, most likely we will just continue to melt up with some consolidation on the way.
The blue sky is powerful and it is hard to count when it will top out until we see the sign.
However, bias on the last blue sky breakout. Spy went up almost 6% and then pull back 10% approx. So based on recent history, spy should be able to get to approx 283/284 then have a 10% pullback. Overall the daily and weekly chart is super duper bullish unless there is another black swan event, most likely we will just continue to melt up with some consolidation on the way.
Komentar:
It did reach my target.... If my calculation is right using last time as a reference, we should have around 10% pull back from here