We're long $SPY, from yesterday's lows, aiming to ride the long term uptrend for as long as possible from here onwards. The signal we had was one of a major market bottom, so there is a significant chance that we don't see drawdown going forward, and just a steady trend. The weekly trends show very interesting signals, with confluence of a downtrend's time running out, while a new weekly uptrend signal can confirm next week, and while longer term trends are at play, implying upside can be quite steady and significant for a long time.
Best of luck,
Ivan Labrie.
Best of luck,
Ivan Labrie.
Comment:
One more week left for the rally in $SPY, then it could correct for 10 weeks
We will hedge our portfolio next week.
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And hedged, closed longs. Shorted $ES futures.
There's a distinct chance we see a significant correction now.
There's a distinct chance we see a significant correction now.
Comment:
$SPY can drop 5.08% from the top during the next 7 weeks
We will monitor the action to enter longs at the bottom.
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I think the correction might have bottomed. Let's wait and see...since sentiment recovered, I started buying back into hedges, after going long quality names at the bottom.
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Read my updates here:
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This is a great forecast for now, looks viable.
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See the 2 month timeframe post for updates.
