Last month in July, I posted that we would see a rally in the S&P 500, which hit a monthly take profit zone and aligned with the yearly take profit zone. Now, with the recent drop, the big question is: is this a crash, or just seasonality and money managers doing what they do best—taking profit and rebalancing? 📉
On January 1st, 2024, we anticipated profit-taking between 5457-5284, and it happened as expected. According to principles taught by my mentor, Wayne McDonnell, prices could drop back to the yearly central pivot at 4451, nearly a 20% decline. But does this mean we’re in a bear market? Not exactly.
Big tech is making massive investments into AI development, marking a significant shift in capital expenditure. Instead of buying back their own stock, they're investing in future growth. With AI coming of age, I’m ready to go long closer to the end of October, especially with a nice demand zone at 4250. 📈
As Warren Buffett famously said, "Be fearful when others are greedy and greedy when others are fearful." 🧐 Beware of the news—they often create panic among investors to sell. Stay informed, stay calm, and look for opportunities in the midst of volatility.
Stay tuned for more updates and happy trading! 💹
On January 1st, 2024, we anticipated profit-taking between 5457-5284, and it happened as expected. According to principles taught by my mentor, Wayne McDonnell, prices could drop back to the yearly central pivot at 4451, nearly a 20% decline. But does this mean we’re in a bear market? Not exactly.
Big tech is making massive investments into AI development, marking a significant shift in capital expenditure. Instead of buying back their own stock, they're investing in future growth. With AI coming of age, I’m ready to go long closer to the end of October, especially with a nice demand zone at 4250. 📈
As Warren Buffett famously said, "Be fearful when others are greedy and greedy when others are fearful." 🧐 Beware of the news—they often create panic among investors to sell. Stay informed, stay calm, and look for opportunities in the midst of volatility.
Stay tuned for more updates and happy trading! 💹
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.