Spy could rip

Sup baby,

This story will be told using the weekly time frame, colourful pasta, made up lines, and a positive outlook.

If we look back some time, using the 20(yellow), 50(Orange), 100(Blue), and 200(Red) squiggles. You’ll notice we haven’t crossed the Orange, or the Blue without recovering and taking off afterwards. In fact we haven’t since 2008.

If this fails, we also know the Red pasta is bouncy! If the Red pasta fails you, just keep buying calls and eat ramen. You’ll be just fine.

Interestingly enough, the market sentiment online is rather bearish. It has been for a few months now. The rate hikes are doing a good job screwing people, how much it’s helped inflation though.. couldn’t tell ya. Point being, it’s the first time this many investors are present online and taking in all the recession crap 24/7. I honestly think there’s enough bullshit out there to cover up a good market rip.

This is pulling back to retest an old downtrend that held the market back (4 times) during this “mild recession”. AND it’s hitting a tested diagonal trend line that’s kept the recent rallies in check. The Yellow pasta could breakout , this could be nice.

Hope you enjoyed reading this! If not, buy puts what do I care.

Not investment advice

Cheers