High dividend and defensive stocks once again outperforming, consumer staple, real estate, and telecom up pretty nicely for the day
indeed and also looking at our first down "quarter" since Q3 of 2015 ... that would end the 9 quarter winning streak and this could be the first time in 8 years that we had a down Q1 i guess the good news here is that the month of april has been up 9 of out of the past 10 years.
alright! looks like we're finally back up and running on the live site. apologies to all for that little glitch this morning! i'm not sure how to port posts over from our backup site so this will have to do for now (sorry @OldFart!)-
hope everyone has a great final trading day of the quarter today! i can't believe we're closing the books on Q1 already...damn where has the time gone this year!
If next week, the SPX can rally above the 2670 level, a test of the 2700 level should happen. At that point, I shall have to decide whether to jump out for risk management or whether there is a strong possibility of a test of 2800. I averaged in and am still in all my long positions
If the price can close at above around the 2630 level today, that's a bullish sign for next week, according to my theory
So far, the bulls are in control intraday. Further, my theory says that anything between 2530 and 2600 is a strong buy zone. I also think that 2600 to 2650 is an appealing buy zone for many traders as well. My theory says that the market will test the 2700 level at some point. If the price hits that level, what happens after that is dependent on the price action. Broadly speaking, we are in a deep, deep range on the SPX--and it's going to take much more vigorous action by the bulls or the bears to shoot out of this broad range.
the 8 ema is at 2647, if the spx cant get above that today or monday, i can see it as a classic shorting point for shorts
Nice rally for the market and especially the tech sector Long end bond yields continue to move lower, shouldn’t be bad for stocks unless it indicates that something could go wrong for the economy soon
Hmmm..., I'm not sure. I can totally see another drop nert week. Feels like eom, eoq window dressing. We are still below the channel, right at the ma9 below the 50, and not making Higher high. This feels like an oversold dead cat to me. Welcome to the Bear market of 2018 boys....
Maybe. But 2540 to 2600 is still a solid buy zone. And I mentioned that 2600 to 2650 is an attractive zone for many traders. And indeed the price rallied to 2659 thus far. But the price still has to test that 2700 level at some point according to my theory. So, the price collapsing to the 2600 zone is another buy opportunity. Also, the 2700 level is a meaningful zone to exit--even at break even. And then if the price is at that zone, one has to see the price action to know what to do next
Even if the price were to collapse to the 2540 level, that 2700 level is looming large in the minds of institutional traders--according to my theory
