Bubble ETF to speculate SPX moves
In traditional markets, especially equities, individual tickers/ETFs/main indices can lag one another but they all move in the same direction at a HTF. It is only the strength of their moves which brings a divergence in their price. This can be a useful tool/signal to speculate when the markets are going to make an important bear/bull turn and also see where they are placed in the cycle.
Here I am making use of the Renaissance IPO fund which ran its bubble course after Covid and burst spectacularly back to the Covid lows. This zone is obviously an important pivot suggesting currently in EW 4th wave retrace and taking a modest .382 fib retrace gives the fund a further ~20% increase. This can at the minimum equate to a 3 to 6% run for SPX which puts it around the 4300 - 4500 area. At least, it can inform us that there is a further run for SPX until the IPO target is reached.
Two paths here to the target:
Path 1: Direct run by June end.
Path 2: Further correction near term before eventual target by August end.
Here I am making use of the Renaissance IPO fund which ran its bubble course after Covid and burst spectacularly back to the Covid lows. This zone is obviously an important pivot suggesting currently in EW 4th wave retrace and taking a modest .382 fib retrace gives the fund a further ~20% increase. This can at the minimum equate to a 3 to 6% run for SPX which puts it around the 4300 - 4500 area. At least, it can inform us that there is a further run for SPX until the IPO target is reached.
Two paths here to the target:
Path 1: Direct run by June end.
Path 2: Further correction near term before eventual target by August end.
Commentaire:
Target Reached.
