Unpopular opinion, but based on time cycles we may just be at a bump in the road as we apporach 30k rather than some sort of dooms day melt down.
SP:SPX Prior Spoos analysis avail here: www.yellowblackflag.com
Entered with 1 ES contract today after market close. Initiated at 2600, stop 2571, target 2700. Playing for a 5-day bounce hoping that selling exhasted on the NY session. Fundamentals: Good macro data all over the place, earnings beats, steady investor inflows, and a nice reset to P/E ratios courtesy of the -10% correction we've just experienced. Technicals:...
THe S&P 500 reached it's bullish target at the 2000-2020 area (around 200-day MA on the daily chart) with a solid W-shaped recovery not unlike the one experienced on Q32015. There are a couple of technicals that I'm using as a rationale to open short positions from current levels: 1. Lower lows on Jan-Feb, 2. RSI about to hit Overbought on the Daily chart. 3....
The initial reaction from the fed's interest rate hike announcement was a quick spike down and then a rally. However, from a fundamental perspective, the rate hike is bearish for the equity markets. This trade setup is more to do with fundamentals, but also, the 4H Trend is down as we trade within the channel. The spike up attempt today will act as resistance...