Momentum on the SP500 is very strong right now, however the SP500 is nearing 3 standard deviations of the 200 Day volume weighted moving average. RSI is also very overbought right now, and is in a range where RSI typically peaks for the SP500. There may be a very small pullback before year end, however due to strong momentum, I believe a Santa Rally will take us to 2300. Afterwards in January we may see a strong pullback as prices revert back to the mean, or at least the 50%-61.8% zone of my Fibonacci Bollinger bands.
Right now I am reluctant to call a short on the SP500, as a Santa Rally could carry us to 2300 or beyond. If it does, at the time, I would look into placing a short to bet on a pullback come January.
Right now I am reluctant to call a short on the SP500, as a Santa Rally could carry us to 2300 or beyond. If it does, at the time, I would look into placing a short to bet on a pullback come January.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.