S&P500 still looking bullish
Updated
In terms of the global economy the flood of liquidity and government aid has been papering over the cracks which I don't know when or whether they are going to break. The situation isn't pretty, yet the markets don't really seem to be worried about anything long term. Inflation doesn't seem to be that much of an issue yet and markets just keep going higher thanks to the liquidity injections, people having more access and overall the bubble doesn't seem to over.
For the SPX500 a dip to 3990 would be very healthy and a great buying the dip opportunity, although it might come after we touch the top diagonal first and currently SPX is bullish across all timeframes and still sitting above support very nicely. I'll create some ideas pretty soon supporting this one regarding other asset classes that people might find interesting so stay tuned!
The bull market in stocks is getting stretched and there are some signs of weakness in some, but there aren't signs of extreme froth either. I've been very big on the idea that the bull isn't over and won't be over any time soon, although a 15-20% correction probably isn't far away. So far corrections have been very shallow and in my opinion we'll get a big drop at some point. For now though everything looks pretty bullish. Chinese stocks have shown significant strength and they have held their bullish structure. A little dip from here would be ideal for going long. Russell 2000 and Nikkei have been extremely weak, but I am still not sold on the idea that they will go into a large dip soon. The Nasdaq 100 is looking weak, yet I see nothing worrying. The DAX has been one of the most bullish ones along with other European indices, however it is one of those that worry me a little bit more in the short term as every time it broke above ATHs it then collapsed and currently it has a bit of
For the SPX500 a dip to 3990 would be very healthy and a great buying the dip opportunity, although it might come after we touch the top diagonal first and currently SPX is bullish across all timeframes and still sitting above support very nicely. I'll create some ideas pretty soon supporting this one regarding other asset classes that people might find interesting so stay tuned!
The bull market in stocks is getting stretched and there are some signs of weakness in some, but there aren't signs of extreme froth either. I've been very big on the idea that the bull isn't over and won't be over any time soon, although a 15-20% correction probably isn't far away. So far corrections have been very shallow and in my opinion we'll get a big drop at some point. For now though everything looks pretty bullish. Chinese stocks have shown significant strength and they have held their bullish structure. A little dip from here would be ideal for going long. Russell 2000 and Nikkei have been extremely weak, but I am still not sold on the idea that they will go into a large dip soon. The Nasdaq 100 is looking weak, yet I see nothing worrying. The DAX has been one of the most bullish ones along with other European indices, however it is one of those that worry me a little bit more in the short term as every time it broke above ATHs it then collapsed and currently it has a bit of
Trade closed manually
I'll close this idea as I will be creating new ones. I am still bullish on stocks and want to give proper updates
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