Tag Archives: SP 500

Be Patient For That Fast and Furious Pullback

The market has rallied impressively for the last 9 weeks and it has caused major heart aches for the bears and the scared retail investors who have been told to stay on the sidelines.  From the market breath perspective, you have to admit that the likelihood of re-visiting the December low is getting slimmer as time goes on.

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S&P 500 Cash Index Cycle Location 02152019

The S&P 500 cash index closed above the highly watched 200-day moving average for the last four trading days.  The equities market is acting everything is fine, the FED is backing off from tight money policy, the trade war is going to be resolved and the growth engine will be back on again.

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S&P Cash Index Cycle Location 02/08/2019

Finally the index went points close to the 200-day moving average, but it had a very mild reaction, there is no forceful selling, period.  The mood of the streets is “under invested”, meaning the majority missed the bulk of the rally, either the longs got out too soon, or the bears shorted too soon.

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New Leadership Sector In The Coming 4-year Cycle

The market staged an impressive 10.71% rally in the last 10 trading days.  It took 65 trading days to decline 20.21% from the September top to the December low.  The S&P 500 December price low was right at the 200-week moving average, meaning the price was at the maximum pain level for the long term bulls. 

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S&P 500 Cash Index Cycle Location 01042019

The S&P 500 violated the February 2018 intradeday low on Friday 01/04/2019.  It has the entered the resistance zone at 2532-2600.  From the way how it bounced from the Christmas Eve low we believe it has potential to go a slightly higher than the lower end of the resistance zone of 2532.

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