Monthly SPY has crossed the .382 Fib Levels, but is not BEARISH

I like to look at the longer-term cycles and price setups. I can tell you SPY is technically in a correction and has not turned BEARISH yet. My predictive modeling systems confirm this analysis.

By breaking below the .382 Fib retracement level, it is likely the SPY is attempting a "wash-out" price move to flush out shorts.

Like we saw today, a short-squeeze could prompt a big rally over the next few weeks/months.

I'm sharing this with you because I believe the US markets entered a period of tremendous fear over the past few weeks. Yes, the US economy is constricting a bit, but I'm starting to question the narrative of a recession based on my belief the US markets may attract trillions in foreign capital if it stays immune from global risks.

Right now, the biggest global risks are Russia, China, Asia, and Europe.

Follow my research if you like what you see. I'm not here to sell you anything, I'm here to share my research and teach you to become better skilled at using Technical Analysis.