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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I still view it as
ES tagged 3980 to the tick and reversed for over ...
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