SPY upcoming top

28 Mar 2020

With last Friday closing at a nasty -2.5% after Thursday marked a +38.2% total loss retracement of the large loss we've suffered in little over a month, I foresee one last push on this retracement that will take us to $275. This would mark a 50% total retracement of losses which is the same retracement zone the 2008 crash found before suffering an additional 50% total loss. Wave count seems strong in my eyes, I've tried several bearish counts but this one seems strongest. If we do manage to hit 275, a strong reversal could occur.

28 Mar 2020

Not

Time estimate is rough, but technicals are signaling that we should top this week. I'd bet by Wednesday EOD

30 Mar 2020

Not

Extremely strong reversal from Friday's close and an almost confirmed breakout over $259 trendline resistance. I'll adjust targets if we can see $264.30 today, but conviction on $278 by Wednesday is looking positively in play.