Still holding bullish bias - buoyed by consumer confidence & US Fed dovish comments re: 2024 rate cuts
Short-term outlook = price action appears stretched/overbought (IMO only) & needs a pull-back to Golden Pocket/200MA confluence for a sustainable rally into 2024.
Pull-back would coincide with SPX seasonality aka early December dip into Santa rally rip.
78.6% Fib level could act as target for shallower pull-back if punters are extra bullish, TBC.
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.
- Price action hugging descending trend-line (light blue).
- Still holding bullish bias - buoyed by consumer confidence & US Fed dovish comments re: 2024 rate cuts
- Short-term outlook = price action appears stretched/overbought (IMO only) & needs a pull-back to Golden Pocket/200MA confluence for a sustainable rally into 2024.
- Pull-back would coincide with SPX seasonality aka early December dip into Santa rally rip.
- 78.6% Fib level could act as target for shallower pull-back if punters are extra bullish, TBC.
DYOR.