Obviously a lot of people missed that the Fed announcement about raising interest rates was today lol. $252.92 is the 52 week low. If we close beneath that, well you know what happens there. Bulls have RSI on the one day giving them a lift as we're clearly entering oversold territory. We should expect some movement to correct that in the coming days or weeks. Elliot wave, SMA and MACD are showing that we have room to go....
The only Santa Claus rally will be from the correction from being overbought.
Any comments, be sure to let me know.
Thanks!
The only Santa Claus rally will be from the correction from being overbought.
Any comments, be sure to let me know.
Thanks!
Comment:
Personally, I removed myself from both SPY and TLT. Reasoning for this was strictly RSI. We're gently entering the 30 region. If we came crashing in, i'd be holding my positions. Once we bounce to at least 35 and see some negative movement again I'll be back in my position. (I sold my positions around upper $249's)