SPY Symmetrical Triangle In Weekly Time Frame On Hyperinflation

  • Post category:US Economy
  • Reading time:2 mins read
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SPY is settling into a Symmetrical Triangle pattern in the weekly time frame. How the pattern resolves itself will set the stage for how the S&P 500 will perform for the remainder of 2022.

Spy Weekly

Notice the cycle waves. For the downtrend to continue, this cycle needs to break below the previous low at around $361.

SPY officially entered into a bear market on June 13, when the pullback exceeded 20% off the all-time high. Blackrock and Vanguard have been holding up SPY from free-falling. With earnings season upon us, and a symmetrical triangle on the weekly chart, decision time for institutional investors is quickly approaching which will set the stage for how markets move during the second half of 2022.

June CPI Inflation Highest Since 1981

Whatever happened to that inflation is transitory?

Inflation rose 9.1% in June, hits a new 41-year high
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