S&P 500 IndexLong
S&P bullish setup to 5000+ in 2 years
Last week, I expected Powell to crash the market during the FOMC meeting and expected a double top at 4100. Now that S&P has broken the crucial resistance, it closed the week with strong green candle despite the correction due to NFP last Friday. Apple, AMD showed strong price action despite the bad earnings. AMZN, GOOGL went down due to bad earnings. I flipped from being a bear to bull after the 4100 level broken
S&P supported at weekly MA 200/Monthly MA 50 and has surpassed the downtrend line, closed above 4100, sustain above weekly MA 50. Weekly MACD went to bullish territory after last week green candle close
I have been a full bear who expects dotcom-like crash from May 2021 last year. However, the price action speaks different from my expectation. Therefore, I will follow the market.
I expects S&P to hit 5000 around two years from now. This will also trigger crypto frenzy (bitcoin, ethereum, doge, and other altcoins just like in 2020
This rally will be triggered by "Powell's disinflation bias in 2023", just like "Powell's transitory inflation bias in 2021"
I stay long until S&P hit 5000+. After that, I will become a bear
S&P supported at weekly MA 200/Monthly MA 50 and has surpassed the downtrend line, closed above 4100, sustain above weekly MA 50. Weekly MACD went to bullish territory after last week green candle close
I have been a full bear who expects dotcom-like crash from May 2021 last year. However, the price action speaks different from my expectation. Therefore, I will follow the market.
I expects S&P to hit 5000 around two years from now. This will also trigger crypto frenzy (bitcoin, ethereum, doge, and other altcoins just like in 2020
This rally will be triggered by "Powell's disinflation bias in 2023", just like "Powell's transitory inflation bias in 2021"
I stay long until S&P hit 5000+. After that, I will become a bear
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