Domistock Tools Used:
Assets charted: S&P 500 ETF (SPY)
SPY is sinking in new lows for the year but 2 of DomiStock’s Forecasting Matrixes can’t see much more space lower. Indeed, the 65% probability Forecasting Matrix (with high recent data significance) see a maximum further drop of up to 2.9% and a minimum of up to 0.74% in the next 1 to 25 sessions.
And the 35% probability Forecasting Matrix (with weighted data significance) see a maximum loss of up to 1,63% and a maximum profit up to 0,47% for the next 1 to 10 sessions.
The fact that 2 out of the four Forecasting Matrixes – including a 65% one – cannot see much space lower for SPY (and they even see a potential profit in the next couple sessions) suggest that DomiStock has quantitative evidence of a new price trend in the making which is not downward.