Updated
S&P 500 - Here is my bullish guess for the week
My guess based on the MOMO of this rally. I just don't think it is going to quit yet. I feel like it is going to go mostly sideways but generally head for that 1.236 fib level by mid to late week. For the bears, there is a gap on the 4th that has not been filled and that gaps also appears in the VXX. So, I think the bears may get their chance in the next week or so. When the market sees this much FOMO/MOMO it usually ends with a bang (e.g., June and Sept). I am just sitting on the sidelines until this thing makes an obvious decision one way or the other.
Just to completely contradict myself, here is a more bearish look of the current rally.
Hope it helps and good luck.
Just to completely contradict myself, here is a more bearish look of the current rally.
Hope it helps and good luck.
Note
Stuck at a major trend line. Be interesting to see if it can break it.Note
So far, not that bad of a guess.Note
However, it could not break that trend line.Note
Tuesday morning updateNote
I don't know. Looking weak.Note
A bit stronger this morning.Note
In case anyone cares. Here is a Thursday (11/19) at 10:15am uipdate.
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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.