Possible SPX - Inverse H&S Long Idea
Updated
SPXBullish outlook on SPX ( S & P 500)
- Golden Cross on Daily Timeframe (50 Days MA crossing 200 Days MA),
- Possilbe hike Pause by the Fed at March/April meeting,
- General negative sentiment and large short positions that would need covering,
- General company earnings that mostly beat earlier estimates,
- Generally safer environment to invest in US registered equities,
- Mass Layoffs that will eventually decrease costs and consequently increase earnings per share,
Things to watch :
- Appleearning release end of today (as holder of largest weight)
- Fed minutes of January 2023 Meeting,
- Support Line at around 3,900 level,
- DXY level 105 and already happened Death Cross (refer to my earlier DXY chart),
As always DYOR and stay safe.
Comment
Target Hit.
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