SPX: Does the 500 really look like a crashing market!!!
Here to clear the FUD as usual. If this was bitcoin price action recovery you'd all be saying when #lambo, when #moon? V-bottom recovery!
Fundamentals:
Companies balance sheets are strong across most sectors
Fed is on the stock markets side
Trade deal with China will get sorted
Jobless rate at all time low
US GDP expected to slow to 2.4% for 2019 but this is coming off the back of a decade best number in 2018
Inflation is expected to be around 2.2% which is near FOMC's target.
Are there weaknesses in the global economy? Sure. China GDP might slow to a measly 6% growth :)
Still sorting out Brexit situation
Global debt is increasing
But the main two economies will sort out a trade deal eventually and this will calm the markets and carry it for another 2 years before we see a meaningful recession.
This will be a text book example that you should have bought near the 200 Week MA. Just like Bitcoin!
Technicals:
Stochastic is nearing overbought as well as RSI so we might see profit taking pattern, but nothing to be alarmed if prices take a break. DMI looks great. +DI is about to cross the -DI and ADX right at 25 - which supports the momentum behind this bull trend.
Trade: If you didn't buy the dip you're next entry point is to confirm SPX breaks the 100% extension with a daily candle close.
Cheers,
Bobby
Fundamentals:
Companies balance sheets are strong across most sectors
Fed is on the stock markets side
Trade deal with China will get sorted
Jobless rate at all time low
US GDP expected to slow to 2.4% for 2019 but this is coming off the back of a decade best number in 2018
Inflation is expected to be around 2.2% which is near FOMC's target.
Are there weaknesses in the global economy? Sure. China GDP might slow to a measly 6% growth :)
Still sorting out Brexit situation
Global debt is increasing
But the main two economies will sort out a trade deal eventually and this will calm the markets and carry it for another 2 years before we see a meaningful recession.
This will be a text book example that you should have bought near the 200 Week MA. Just like Bitcoin!
Technicals:
Stochastic is nearing overbought as well as RSI so we might see profit taking pattern, but nothing to be alarmed if prices take a break. DMI looks great. +DI is about to cross the -DI and ADX right at 25 - which supports the momentum behind this bull trend.
Trade: If you didn't buy the dip you're next entry point is to confirm SPX breaks the 100% extension with a daily candle close.
Cheers,
Bobby