SP500 Long after Pull Back
SP500 – We can see price is fast approaching the Monthly R2 and my first target which is 4150.
We are starting to see buyers exit and sellers enter the market. – my next enter Long will be around the 4000 level, a level of interaction between buyers and sellers.
Remains within a long-term rising wedge, which is a bearish pattern and typically an ending pattern but remains strong so happy to continue buying that strength. Later in the month could be quite different. Watch out for VIX buying and a fast break higher in Bonds.
We are starting to see buyers exit and sellers enter the market. – my next enter Long will be around the 4000 level, a level of interaction between buyers and sellers.
Remains within a long-term rising wedge, which is a bearish pattern and typically an ending pattern but remains strong so happy to continue buying that strength. Later in the month could be quite different. Watch out for VIX buying and a fast break higher in Bonds.
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