Markets opened higher with S&P futures moving towards the last high...
What could this mean? Well, technically speaking we could see a possible double top at the 3660 mark. And also, at the 4H chart a batman bearish structure!
Will this happen? Probably not because since March the markets have been moving on strong fundamentals and though multiples seem to have led to overvalued price shares the markets seems to enjoy the printing FEDs money machine and honestly as long as there is liquidity the market will keep on going higher... until it bursts eventually, And it will, trust me!
This is not sustainable because we are not currently having economic growth! Liquidity traps.
Well... this said we are not planning to add positions to our portfolio but we will keep an eye on BABA and WORK. They seem to bee at great prices, or at least getting there!
Follow us at our blog: 3psmarkets.blogspot.com
What could this mean? Well, technically speaking we could see a possible double top at the 3660 mark. And also, at the 4H chart a batman bearish structure!
Will this happen? Probably not because since March the markets have been moving on strong fundamentals and though multiples seem to have led to overvalued price shares the markets seems to enjoy the printing FEDs money machine and honestly as long as there is liquidity the market will keep on going higher... until it bursts eventually, And it will, trust me!
This is not sustainable because we are not currently having economic growth! Liquidity traps.
Well... this said we are not planning to add positions to our portfolio but we will keep an eye on BABA and WORK. They seem to bee at great prices, or at least getting there!
Follow us at our blog: 3psmarkets.blogspot.com