Don't be surprised if we hit 9.5k on the Nasdaq. China could easily invade Taiwan in 2023 or 2024. Russia could easily cause huge problems, there is already an energy crisis expected in EU. Short term Jerome Powell is gonna keep talking more hawkish than his actions indicated (his actions will be more bullish). Institutions are back to shorting and they will keep profiting. I cant find a single reason as to why you should go long from between now and at least the end of next year.
Last post I state that you should slowly average into short positions even though the weekly RSI might hit 70+ and the markets reach 14300. The weekly RSI hit 70+ (at some point) but that was not enough for the markets to hit 14300.
Short term I will take profits on most of the shorts when the markets hit 11800. Long term I think we will drop lower.
I would hold some shorts but mostly cash.
Last post I state that you should slowly average into short positions even though the weekly RSI might hit 70+ and the markets reach 14300. The weekly RSI hit 70+ (at some point) but that was not enough for the markets to hit 14300.
Short term I will take profits on most of the shorts when the markets hit 11800. Long term I think we will drop lower.
I would hold some shorts but mostly cash.
Comment:
the market hit 11800, i have decided liquidated all of my shorts and hold cash