3200 is my target for SPX still, no reason to move targets lower yet. I think we’re def well into this bear.
@_aahad retail is catching up to the “short” trade and that eventually bears will get too confident in their thesis just like bulls in 2021. The more the thesis plays out, the less convicted you should be in more downside. Right now, I don’t see any catalysts upcoming for 2200, but even
@_aahad if it goes to 2200, I don’t think DCAing between 2200 and 3200 is a bad bet long term. Yes, we’re seeing the unwinding of what the fed did in 2020, high inflation, but it’s not the first time we’ve been in a situation like this
@_aahad Reason for the 3200 is if an invasion, high inflation and hiking rates caused a 20% dump, it’s safe to say another huge dump from 3200 would take something like March 2020 that I’m just not seeing rn.This post is based on this twitter thread.