SPX The wall is coming fast
Updated
With the Dow divergence (the only major index to manage a new high) in full ''flight to safety'' mode there is not much space left for the bulls...
Unless you are day trader, one should avoid long position at this point : the risk reward ratio is, well, not good ! As in 40 or less on the upside vs a downside of 200+.
A lot of churning is going on and the bond market is literally awful. A pause in the interest spike could provide the excuse needed for the final leg up. When the bonds resume falling, the stock market will have no choice but to follow.
Happy trading
Unless you are day trader, one should avoid long position at this point : the risk reward ratio is, well, not good ! As in 40 or less on the upside vs a downside of 200+.
A lot of churning is going on and the bond market is literally awful. A pause in the interest spike could provide the excuse needed for the final leg up. When the bonds resume falling, the stock market will have no choice but to follow.
Happy trading
Note
Note
Note
Good start, we've broken the yellow line (up trend) with what could possibly be a leading diagonal. We will know soon. If the SPX can't manage a new high tomorrow, I shall provide some downside targets.Happy trading
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