Last week the S&P 500 broke bullish out of its long-term bullish triangle. Today it retests the old trend line. If it holds, I target my position at the old high of 2872.
Now the S&P 500 is finally catching up with the US fundamentals... The fundamentals are overly bullish, the Purchasing Managers Index forecasts more positive movements, the consumer index is up. Yes, this looks like our normal yearly 5-10% correction and hopefully now a continuation of the bullish trend.
Let's sit tight and wait.
Now the S&P 500 is finally catching up with the US fundamentals... The fundamentals are overly bullish, the Purchasing Managers Index forecasts more positive movements, the consumer index is up. Yes, this looks like our normal yearly 5-10% correction and hopefully now a continuation of the bullish trend.
Let's sit tight and wait.