That’s right, I’m expecting another selling event into the last week and a half of August left. In this video I give reasons why — based on a few interesting indicators showing me that /ES at 4100 and lower wouldn’t be surprising at all.
Shares of OXY were up 10% on Friday, and with the help of our Voodoo Roadmap we were able to be in well ahead of the news. Let’s look at the setup and what that might mean for prices further down the line.
Bears have had several opportunities to step in and shift the trend but haven’t been able to do it. If that’s the case again tomorrow, we may see SPX move into the psychological value of 4300.
The S&P has had moments where it looked ready to break, but buyers continue to creep back in. Not with much conviction, but with enough to keep things from falling apart. Let’s look at that and where it leaves us on our path into Friday.
The uptrend in price and macroeconomic trends point the way to the upside. Regression to the Mean aka Buy the Dip is the game plan.
Here are the setups I am watching as the market prepares for hikes to December and the trends that are in place now that we can buy the dip.
In this video, we look at today’s FOMC minutes and the whiplash market reaction. We have been getting huge daily swings in both directions which makes it very hard to get on the right side of a trade. This market is a grinder and will take out shorts as well as longs so we must be careful. We look at levels and where we might go in this video as well as upcoming events to be aware of.
