The buyers are far more aggressive than the sellers in SPX500 for now.
After 3 attempts of failed breakout, it succeeded on the 4th attempt albeit a short one and then breaks out again on the 5th attempt.
Much like the trekker on the mountain, the higher altitude you climb, the steeper it gets and the slower your pace will be. But it is still on the ascent and that is what matters. You will reach your peak eventually before you head down (not so soon, I hope).
The way I look at it , you have 3 options :
1. wait for the price to revisit 3200 level and go long
2. if you are in the camp that SPX500 is over-valued , buy into the PE ratio that it is expensive , then you might want to take a short position. The price might revisit 3100 as well.
3. Do nothing and wait at sideway while watching people celebrate or cry over their profits and loss
After 3 attempts of failed breakout, it succeeded on the 4th attempt albeit a short one and then breaks out again on the 5th attempt.
Much like the trekker on the mountain, the higher altitude you climb, the steeper it gets and the slower your pace will be. But it is still on the ascent and that is what matters. You will reach your peak eventually before you head down (not so soon, I hope).
The way I look at it , you have 3 options :
1. wait for the price to revisit 3200 level and go long
2. if you are in the camp that SPX500 is over-valued , buy into the PE ratio that it is expensive , then you might want to take a short position. The price might revisit 3100 as well.
3. Do nothing and wait at sideway while watching people celebrate or cry over their profits and loss
Comment:
Praise the Lord. Despite the ongoing Covid-19 cases increasing in India, Hong Kong, US, etc, the stock market has remained defiant and continues to head up, much to the pleasures of those who may have lost their job, retrenched or suffered a pay cut. Hopefully, this surge could replace partial income for them or act as a alternative source of income for them.
