On a weekly close basis, it made a higher low and a higher high, pretty typical trend changing indication. Though a bit early but looks promising. RSI is 49.96, MACD is positive. Weekly volume is decent.
This is a correlation study to TLT (see )
TLT in 2012 and 2016 was down around 22% and in the same time frames SPY was up 40+ %. If history repeats, SPY could rise to $400 level around Feb 2022. That would be about 20% gain from today's level (as of 8/15/2020), not...
XLF had a double breakout last Friday (Aug 7 2020) with above average volume . RSI is strong but MACD is negative for now. The plan is to buy it around this level with a stop around $24. Expect to hold it for about a month with $3 to $7 gain per share if it goes well.
Looks like it is about to break out and go above 50 DMA. The plan is to buy the breakout, and target $5 to $10 gain a share in about 2 weeks. Set a stop around $14.50 and be comfortable with about $2 loss a share if the trade did not go as expected. Overall feeling is the trade is favorable once breaking out, as MACD is above 0 and RSI is above 50.
RSI is in bullish zone, MACD is positive. Much more room to the upside (20% ~ 60%) but limited room to the downside (10% ~ 15%) so from risk/award perspective, it is attractive. I think it might spike fast from this level. IMHO it is a strong buy but do not forget a stop to shield down side risk.
Just want to start the new year with some positive tune: if history of 1942 - 1966 and 1982 - 1999 repeats, the current market could still have 10 more years of gains ahead and could triple the current price!
If past cases work again, a 6 months to 12 months 15% to 30% rally can be expected. Quite likely bottom is forming, and thus good time to scale in. What can go wrong? price dips below 40 week moving average and back in to the downward wedge, that would be the signal to bail.
MACD has been negative for the past 2 months, RSI has been below long term trend line for the past 2 months, and price has been below 10 month moving average for the past 2 months. Similar situation in 2000, 2008, and 2015 told us the chance things go bad is HIGH. 2015 case told us we can get back into the market once there is a meaningful breakout together with...