paulyberndt
Long

SPX Long Monthly

INDEX:SPX   S&P 500 Index
231 2 3
SPX             continues to show strength on a Monthly perspective.
We have yet to get that 4-6 month chop resistance level like
we did in past corrections to send us into a bear market
It is getting concerning though the rise away from the median line on the Andrews Pitchfork
continues to get more and more extended from a linear regression standpoint I do expect us to retest the 1532 level but the market has yet to show its hand.
FEAR GREED INDEX over at CNN Money now at 71 and in Greed territory. Stocks are not such a great buy by their methodology. It continues to climb.
Reply
Your analysis is correct. Pullback going to happen at least to midline of BBand. Beware of gap downs that show that hand, as gap ups have been the signal to buy buy buy. I have shaved off larger portion of my long SPY and shorted DIA. Strength is undeniable, but weakness creeps in then surges and I suspect we roll into the new year down.
Reply
United States
United Kingdom
India
Deutschland
España
France
Italia
Polska
Brasil
Россия
Türkiye
Indonesia
Malaysia
日本
한국
简体
繁體
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing Priority Support Ideas Published Followers Following Private Messages Chat Sign Out