bull - saw your message: I can't tell you if this is some
new bull market - I tend not to favor that, but the trend is up and
has been up since Oct when we favored a trade low in the market
because of 5 waves completed to the downside, playing long side has
been the place to be and continues to be.
last year energy lead the market, as well as big old economy
stocks like the the Dow and VYM, while big cap tech and QQQ's were
down the most - this year things are the complete opposite: energy
and Dow is the weakest while big cap tech, especially the
magnificent 7 or magic 8 ball 8 are the strongest.
My target area on the SPX has been 4325 - 4400 since the Oct
lows of last year and so that that continues to play out.
Not surprised that QQQ's lead this year after lagging the worst
last year - but I'm not perfect I didn't go super aggressive long
that area like in hindsight we all should have.
Currently AI is the big thing/hope, the Jesus moment for the
market - I think it will have profound effects on everything. That
said, is it enough to take the whole market to new all time highs
now? or do we still have one more big dumpola later this year early
Fall, which has been our prognostication guesses for a long
time.
You could use the KISS charts to keep you invested in some of
these names (if you have them (most have some of these at least
such as AAPL etc, if one is long some of these magic 8 ball stocks
already, one option is to just stay long and manage them with our
KISS systems stops. If they carry the market to a new all time high
and a new bull market - well they'll keep you in. But if the music
stops later on, they give you a chair to sit in (like a game of
musical chairs).
The QQQ and SPX have been long, the QQQ's since early March -
those are some indexes one could have been long in their longer
term 401K type accounts as well
bull - saw your message:
SPX vs SPX Equal Weight Views along with the Magnificent Seven
Posted by matt on 29th of May 2023 at 02:00 pm
bull - saw your message: I can't tell you if this is some new bull market - I tend not to favor that, but the trend is up and has been up since Oct when we favored a trade low in the market because of 5 waves completed to the downside, playing long side has been the place to be and continues to be.
last year energy lead the market, as well as big old economy stocks like the the Dow and VYM, while big cap tech and QQQ's were down the most - this year things are the complete opposite: energy and Dow is the weakest while big cap tech, especially the magnificent 7 or magic 8 ball 8 are the strongest.
My target area on the SPX has been 4325 - 4400 since the Oct lows of last year and so that that continues to play out.
Not surprised that QQQ's lead this year after lagging the worst last year - but I'm not perfect I didn't go super aggressive long that area like in hindsight we all should have.
Currently AI is the big thing/hope, the Jesus moment for the market - I think it will have profound effects on everything. That said, is it enough to take the whole market to new all time highs now? or do we still have one more big dumpola later this year early Fall, which has been our prognostication guesses for a long time.
You could use the KISS charts to keep you invested in some of these names (if you have them (most have some of these at least such as AAPL etc, if one is long some of these magic 8 ball stocks already, one option is to just stay long and manage them with our KISS systems stops. If they carry the market to a new all time high and a new bull market - well they'll keep you in. But if the music stops later on, they give you a chair to sit in (like a game of musical chairs).
The QQQ and SPX have been long, the QQQ's since early March - those are some indexes one could have been long in their longer term 401K type accounts as well
https://docs.google.com/spreadsheets/d/1IvnRa4hRYPPYwdyWNcoYO_PS2cV7uo3OlrHnUTp-kT8/edit#gid=0
docs.google.com
KISS STS Table Portfolio - Google Sheets