ThomasFJE's avatar
$16.8m follower assets
I went short last month and I believe there is more pain coming.
On August 8th I went short. $SPY has gone down 10% since. I closed my shirt positions but I’m afraid to even think about going long.

When will the time be right? I think it is when the FED will change course. What do you think?
Preston | Investor Insight's avatar
That's my plan too. I expect we have more pain ahead, but I do anticipate a short term bounce soon.

Here is when history has said to go long and that is after the Fed pivots.
Image upload
ThomasFJE's avatar
@investorinsight Thank you for the useful information!🙌🏻
AverageInvestor's avatar
I’m continue to invest my monthly allotment. Getting great deals on some long term holds right now. Strongly considering putting more into IBonds since the high rates look like they’ll be around a while.
ThomasFJE's avatar
@averageinvestor That’s a steady plan 💪🏼
Chris's avatar
The trend is your friend but we are getting close to historically major support levels for $SPY, the monthly 50 period simple moving average (blue line).
Chart URL below.

here is another picture of it on the quarterly time frame chart, this time its the 20 period simple moving average, another widely followed moving average and the chart also shows a bullish quarterly candle forming (inverted hammer).