Steve and Matt, could you pls comment on whether this is still a bear market rally that you guys keep referring to or are we in the beginning of a new bull market.  I guess I have been listening to all you previous comments in past newsletters that we are in a bear market, that i keep thinking we will be getting a bigger pull back,. but now we are definitely really gearing for end of year rally it seems.  Pls comment on where you see decent support on ES for us to go long or on spy to go long at, as well as the qqqs.  TIA

    My advice is to simply

    Posted by steve on 30th of Nov 2022 at 09:29 pm

    My advice is to simply respect the trend  until that changes. Real simple higher highs and higher lows have unfolded.  Bigger pullback will come only after trend changes .  

    I also posted Goldman Sachs views below in case you're interested.  

    Most importantly, follow your plan versus prognostications. 

    Appreciate your comment Steve. It’s

    Posted by arun on 30th of Nov 2022 at 10:17 pm

    Appreciate your comment Steve. It’s important to respect the market regardless of our beliefs. 

    again...that's why I like the

    Posted by matt on 30th of Nov 2022 at 09:52 pm

    again...that's why I like the KISS daily system - if things magically went back into a bull, it will catch that, no guessing on the members part, and it's been long for 5 weeks already, it will simply follow the trend and raise stops higher over time.

    and if things fall south later on, it will get out

    I like systematic approaches to things.  Just saying respect the trend is a broad spectrum, doesn't tell them where to go long or to exit

    I still view it as

    Posted by matt on 30th of Nov 2022 at 09:21 pm

    I still view it as a bear market rally - again KISS daily system has been back long for 5 weeks on the S&P 500, QQQ has been long, refer to the STS stops. Should the market do a 'magic  mike' event, they will catch it and make new STS higher low stops over time, should the market eventually sell down again, the will get out, why complicate it.  

    some possible targets I see is 4100 on the low end (fills a gap), then 50% Fib off the Jan highs at 4150, if things really rock and roll maybe 4300. SPX closed near a downtrend line from the Jan highs and above the 200 day MA. It now needs to STAY above the 200 day MA

    and ETF's like VYM, which is my favorite is up for the year now


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