Ananda, the S&P looks like it is in a good trading range.
I must learn how to read it so maybe have a trade one day. Never traded the S&P before.
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Ananda, the S&P looks like it is in a good trading range.
I must learn how to read it so maybe have a trade one day. Never traded the S&P before.
As time slowly grinds on the US market charts from 2000 are looking very much what they looked like from 1965 to 1981 ..... going nowhere over 16 years ... except this time the amplitude (volatility) of the ups and downs are a bit bigger but none the less the same pattern .... and we are not even at the half way point of this secular bear market
so far, SPX 500 *886 marks the low point of the current correction drive
-reluctance to take it lower at this stage >
-markets oversold >
-modest upward bounce to *900 congestion could be expected >
-*879 remains likely target before market would have the potential to head higher to *1000/1008
...as far as the H&S concerned, there are voices questioning the symmetry of the pattern, but in any case, if there is a decisive break below *879 (CONFIRMED), then potential exist to test the March Low
Trading Strategy: sideline
Long Term: THE BEAR
_no guarantees and trading strategies are just ideas_
Kind Regards
The market is pricing in a bad profit result from the companies.
If there is a few good result announcements, then we can see another run.
...like the usual high negative forecasts and then better than expected results...
the SPX 500 tiptoeing to lower Close, no impulsiveness leading the charge lower, as a result I would be bullish in the short to medium term until the index reaches the *1000/*1008 level as a minimum; further limited losses to *865/*868 could be expected short term;
Trading Strategy: sideline (safest); hedge: short bias
Long Term: THE BEAR
_no guarantees and trading strategies are just ideas_
Kind Regards
Support on the S&P looking solid at current levels...
...pressure on the SPX 500 remained ante earnings reports, but volume has been light on down ticks
...as a matter of fact, maybe due to program trading again, a MASSIVE amount of buy volume hit the market -NYSE ticks up to +1466, the highest extreme since the March Low...
Trading Strategy: sideline (safest); hedge: short bias
Long Term: THE BEAR
_no guarantees and trading strategies are just ideas_
Kind Regards
Market should bounce overnight abit. Dont know if it is a dead cat bounce or not.
The consumer numbers coming out of China is very good. Chinese Auto sales up over 48% and auto market now larger than the US. Very impressive.
Given the US automotive industry is just about on life support, is that such a benchmark to achieve?
The Japanese are far far smarter & have adapted to changing consumer demand (as have other Asian countries, ie Korea), time the US looked elsewhere for guidance :rolleyes:
...round 1: SPX 500 *868 successfully defended
...further pressure on *868 expected, but if the level holds, it will be the base for a bullish advance to *100/*1008/1027 medium term towards the end of summer
Trading Strategy: sideline (safest); hedge: short bias
Long Term: THE BEAR
_no guarantees and trading strategies are just ideas_
Kind Regards