The most painful part of the short squeeze may be yet to come. Because Mario Draghi positively surprised more than the market expected and impressed with a big move by cutting the main refinancing rate to 0.0 percent and rather than buying only eurozone government bonds the ECB is extending its monthly asset purchases to bonds issued by non-bank corporations.
This will lead to a breakout beyond the 200 day simple moving average and increase the short-covering rally so much that we might see a new all-time high instead of a dead cat bounce. Thereby my bullish scenario has a increasingly higher probability to play out. Especially because historically the US stock market rallied a lot starting around 3-6 months after the first FED hike and we are now already at month number three. See: twitter.com/SPYder_Crusher/status/677211160991555584
I also see the "Crude oil" and "China" markets at a bottom as mentioned before and now I also see "Apple" at a bottom with the price being back above USD100.
At least the S&P 500 went higher for two more days since posting my original chart. Today is a potential turning point with the FED meeting of March 2016. Let's see if the S&P 500 stays above 1970 to continue the uptrend further.
PKA
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Is this a joke? Seems like one.
ChartArt
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Did you read my description? Which fundamental argument I mentioned there is a joke?
ChartArt
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Do you still think it was a joke?
trickx
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Agree with the buy on SPX, fundamentals indicate upward movement