This may be a 'short' shot here... but we may try to touch $9350 again before October. it would be a healthy pull back in order to push our way to 11k again. In the meantime, I will be accumulating until I see a strong pullback below $9200. "This is not financial advise". Do with this information as you will.
As always, only time will tell.
TEN has surprised the traders once again with a break through the short downtrend, retracing back to support, bouncing and making 5% gains on the daily. However, with quarterly earnings on the horizon, I don't see these gains sticking around very long.
We are still in a major bearish downtrend, with GM layoffs looming, tariff rates, and the forecast for a...
An earning over prediction has sent this market into a 'good standing' position for the neutral area. Assuming that earnings will not beat prediction, due to tariffs, I expect a major downtrend continuing. If we do not stay in neutral territory, expect a straight downward selloff.