Monday, June 24, 2019

PONZO Update for SPY....06.24.2019

With so much bearishness in the air from the usual talking heads I thought I better run the latest SPY forecast using the PONZO charts.  The outlook via PONZO is NOT bearish although the crap can hit the fan at any time especially if IRAN gets squirrely or if China decides to go mano to mano.
meanwhile the PONZO gold forecast fro just a few weeks ago has proven to be right on although a bit reserved as GLD has already hit the 132 target several months ahead of schedule and its probably best to look for some pullback on that one before initiating any new positions.. 

See PONZO link at the right side if unfamiliar with our benchmark forecasting tool.