SP500, Two scenarios, One outcome
Stop holding your breath, SP500 is going lower, either soon or very soon. Structure of the market clearly underline an unstable and fractured pattern. We will carefully monitor how the correction will evolve and look for clue of a soft bottom near 2450. But I believe 2200 is attainable. I repeat, stay long bond, utilities, telecom and short index, industrials, tech and oil. Look for long opportunity on gold and dollar (I know, they should trade in opposite direction, but not when gold act as a safe heaven with lower rates and inflation).
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