Possible paths for equities... bullish longer term
As equities edge ever closer to all time highs, I am leaning more bullish... The manufacturing numbers arriving in November (yellow line) will be very telling of the overall market direction... Positive indicates expansion, negative indicates contraction... I will go long if numbers are positive... Very soon I MAY open a small short position at all time highs with the intention of flipping quickly (that would be a purely technical trade)...
On a related note... I plan on going long oil at or below $50 per barrel...
Thanks for checking out my idea! I encourage you guys to follow me, I am always open to questions/constructive criticism!
On a related note... I plan on going long oil at or below $50 per barrel...
Thanks for checking out my idea! I encourage you guys to follow me, I am always open to questions/constructive criticism!
Note
Looks like the ABC correction is coming sonner than expected... Wave A should be equal to the length of wave C which brings us to the green line as a target... Around this area is when I will CONSIDER taking a long https://position...https://www.tradingview.com/x/W4GSB9wr/Note
Also oil is breaking up out of a triangle pattern which is typically an ending pattern... I am expecting oil to push back down further... Under $50 I am a buyer...Note
disregard last two comments as both turned out to be invalidated... Still on track back to all time highs... Still overall bullish on equities awaiting PMI numbers...
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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.