Until SPX cash closes below 2800, trend is still up. I see both bull and bear cases possible. I'm still leaning bullish as everyone is calling for a bear market or lower low just like Dec bottom, everyone was calling for a retest but we went on to make new aths. CB's will keep easing like or not, and companies are buying back their stocks aggressively. Again, at this point it could go either ways, so if you're a swing trader, it's best to wait and see what happens this coming week. Close above 2960 should eliminate the bear case imho, close below 2800 and we go much lower
Commentaire:
Amazing how this turned out, everyone was eyeing that "Broadening top" and so the market proved "the most" wrong and broke out to the upside