SPX has been in an descending broadening triangle, which is generally seen as a bullish pattern. Now that the S&P has pivoted off a double bottom, and had a gap up, which generally confirms a trend, there is enormous upside on the S&P 500. This is in addition to CPI dropping yesterday, which shows that the FED can finally pivot, giving stocks a massive upside.
I'm trading this by going long on undervalued stocks in the s&p500
I'm trading this by going long on undervalued stocks in the s&p500
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The market failed to break out with the intensity I expected, and is turning into more of a descending triangle, so I'm reversing my view and think the market will go down.