On the 3rd of March i posted an idea that the SPX was in need of a correction. Granted, i thought the correction would have been more significant. My guesstimate targets were between 3700 and 3550. As of the 4th of March the index fell to a low of 3723 and closed at around 3768.
The DeMarker signal suggests that the correction may have found a bottom based on the daily chart. Based on this i suspect the index will open in the green and could revert back to 3900 or even 4000.
Fundamentally, i can't help but think that the index is a bit "Frothy".
Please note, this idea is shared for educational and discussion purposes only and should not result in speculative investment decisions in any asset class.
The DeMarker signal suggests that the correction may have found a bottom based on the daily chart. Based on this i suspect the index will open in the green and could revert back to 3900 or even 4000.
Fundamentally, i can't help but think that the index is a bit "Frothy".
Please note, this idea is shared for educational and discussion purposes only and should not result in speculative investment decisions in any asset class.