S&P500 to 2800

SPY weekly chart printed negative divergence with PPO oscillator (Jun/Oct lows). Technically that could be a signal for price reversal. I don’t buy it. FED continue tightening monetary policy, which means more downside to equities ahead.

I’m expecting at least $2800 to be reaches in the coming months, November being very red. $1700 is not out of the picture either, but it’s too early to say as it will depend on when FED changes it’s policy.