Fed kept rates constant yesterday with room open for one hike this year. nothing new or surprising here. S&P witnessed some correction leading to this decision. I expect S&P to selloff soon for a bigger correction. My trade idea is to sell the 2170/2180 zone with a stop at 2230 and target 1950, 1890 and finally 1850/60
I expected a huge selloff in markets this year, however before that I expected a very big rally. I cant say the big selloff has started. I just expect this selloff to be corrective in nature before the big rally resumes to new all time highs and then the selloff begins which will be quite vicious in nature and may wipe out around at-least 60% of the value of global stocks/maybe even 70/80%. That would be lifetime opportunity to buy. My view is based on both and fundamentals plus the overall view that the marginal utility from any stimuli has virtually reached zero
In case the above mentioned trade idea materializes, I will share my detailed analysis for this trade.
I would be selling again only on rallies to 2170plus. My zone still is 2170/2185.... stops for any sell in this area now would be 2100