$SPX 2020-11-11
The recovery of the share market since March 2020 has been nothing short of amazing.
I have, in past ideas, spoken about why I am cautious of the growth trajectory on the SPX, which can be summarized down to - LOOK AROUND YOU.
I still - firmly - believe that this market is over extended and currently being propped up via the tech sector. How will the FAANGs handle a vaccine? Well we saw a little snap shot of that this week on the news provided by Pfizer, where zoom saw a sharp retraction. From a technical standing, we are also seeing a bearish divergence on RSI that needs to be reconciled at some point.
Do I think we see March lows again? No.
Do I think we touch the -3 Deviations bound? Yes.
I have, in past ideas, spoken about why I am cautious of the growth trajectory on the SPX, which can be summarized down to - LOOK AROUND YOU.
I still - firmly - believe that this market is over extended and currently being propped up via the tech sector. How will the FAANGs handle a vaccine? Well we saw a little snap shot of that this week on the news provided by Pfizer, where zoom saw a sharp retraction. From a technical standing, we are also seeing a bearish divergence on RSI that needs to be reconciled at some point.
Do I think we see March lows again? No.
Do I think we touch the -3 Deviations bound? Yes.
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