SPY: Potential market bottom during consolidation phase

26 Eki 2018

I think we may have seen the bottom in SPY, judging by the action in the last couple days. The market had reached the peak of a weekly signal, and after time ran out for the projected advance started a steep correction until now. Sentiment has peaked apparently, and we could be seeing a turn around in bonds, oil, and $VIX.
Keep in mind we might be consolidating, and moving sideways all year, which is what long term (2 month bars) Timemode signals imply, and which also aligns with fundamentals here overall. Despite this, the market is supported, and a larger decline is not likely to happen.
I hold larger positions in metals, and miners, with some exposure to oil, Euro and SPY here.

Cheers,

Ivan Labrie.

1 Kas 2018

İşlem elle kapatılmış

Exit here, we will rebuy on dips.

15 Kas 2018

İşlem aktif

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