If you missed the stock market bottom made on 11/23/18 the move down on 12/4/18 gives you another chance to go long.
The SPX low on 12/4/18 was 2697.18 a perfect .618 retrace of the rally from 2631.09 to 2800.18 is 2695.69.
There's a seasonal probability of 80% that US stocks could rally into at least January 2019.
The strongest piece of evidence that the 12/4/18 decline is a buying opportunity comes from the Bullish Percentage Indicator.
Unfortunately the Trading View site does not have this indicator on the chart. The Bullish Percentage Indicator is one of my best tools. On 12/4/18 this indicator
barely went down - a massive bullish non confirmation. I track the SPX and NDX with this indicator, both had tiny declines.
High probability US stocks could rally into at least January 2019. Major Fibonacci resistance is in the SPX 3050 area.
Mark
The SPX low on 12/4/18 was 2697.18 a perfect .618 retrace of the rally from 2631.09 to 2800.18 is 2695.69.
There's a seasonal probability of 80% that US stocks could rally into at least January 2019.
The strongest piece of evidence that the 12/4/18 decline is a buying opportunity comes from the Bullish Percentage Indicator.
Unfortunately the Trading View site does not have this indicator on the chart. The Bullish Percentage Indicator is one of my best tools. On 12/4/18 this indicator
barely went down - a massive bullish non confirmation. I track the SPX and NDX with this indicator, both had tiny declines.
High probability US stocks could rally into at least January 2019. Major Fibonacci resistance is in the SPX 3050 area.
Mark