4th q rally
Hello traders,
more keep points were meet today one being a .500 retracement to the covid lows. Also if we manage to close this week above the (w) 200MA this will be seen as bullish.
there is a chart going around I am sure many have seen it of midterm election years. the 4th quarter historically rallies. I know there are a lot of variables that are unique to the now. But historically the market rallies in the 4th.
the .500 retracement was also a level of resistance back in 2020. I think this will be the final rally before the real panic sets in. 2023 will be the recession year. The Fed doesn't seem to be able to get inflation under control... at least not any time soon.
i think i good end point for the year would be anywhere in the 400 area.
thanks, trade safe yall!!
more keep points were meet today one being a .500 retracement to the covid lows. Also if we manage to close this week above the (w) 200MA this will be seen as bullish.
there is a chart going around I am sure many have seen it of midterm election years. the 4th quarter historically rallies. I know there are a lot of variables that are unique to the now. But historically the market rallies in the 4th.
the .500 retracement was also a level of resistance back in 2020. I think this will be the final rally before the real panic sets in. 2023 will be the recession year. The Fed doesn't seem to be able to get inflation under control... at least not any time soon.
i think i good end point for the year would be anywhere in the 400 area.
thanks, trade safe yall!!
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.