SPX conditions are certainly ripe for a reversion to mean type
pullback. The 9/13 ma were at 3,860 or so when I checked charts,
congruent with the 3,870 fib highlighted on Matt's one chart. Also
a gap below at 3,830 if things really get going and which won't
survive long term. Earnings aren't great and job losses are just
beginning. I'm weighted more short than long right now in my
trading mix. 55/45 and cash otherwise.
Long term in our other accounts I'd love the rally to continue
as I would sell all the 3,000s inventory at 4,220 or better. There
can be miracles when you believe the song says lol. Any forward
progress is a bonus here over the next year to me.
If I'm China, I'd be trying something with Biden in office and
the U.S. fighting inflation and a shaky economy. Maybe Taiwan
situation heats up. In October a guess or sooner. Biden meeting
with Xi in 10 days or so.
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SPX conditions are certainly ripe
Posted by fundamentalvalues on 20th of Jul 2022 at 10:15 pm
SPX conditions are certainly ripe for a reversion to mean type pullback. The 9/13 ma were at 3,860 or so when I checked charts, congruent with the 3,870 fib highlighted on Matt's one chart. Also a gap below at 3,830 if things really get going and which won't survive long term. Earnings aren't great and job losses are just beginning. I'm weighted more short than long right now in my trading mix. 55/45 and cash otherwise.
Long term in our other accounts I'd love the rally to continue as I would sell all the 3,000s inventory at 4,220 or better. There can be miracles when you believe the song says lol. Any forward progress is a bonus here over the next year to me.
If I'm China, I'd be trying something with Biden in office and the U.S. fighting inflation and a shaky economy. Maybe Taiwan situation heats up. In October a guess or sooner. Biden meeting with Xi in 10 days or so.