$SPX Levels to watch and possible good points to start buying.
The futures are falling hard after the decision of President Trump to ban travel from Europe. We may have a falling tomorrow about 4-5 percent or even more. You should be thinking: Why should I start buying?.
Well,first of all you need to control your risk, at this moment you can make a lot of money if you repect risk.
You can use the SPX as an indicator to start buying good stocks and not the SPX directly, so if you make a bad decision with a stock you will be able to survive with minimal damage to your account.
Fed and Centrals banks will implement policies worlwide to help financial markets because in times like this you have the central banks and goverments by your side.
In a technical perspective:
The Weekly chart of the SP 500 is near of the 200 Days Moving Average at $2640 and key levels of support at $2611, $2539 and if things get worse $2403 and $2327.
The daily chart:
The MACD has an extreme oversold condition.
The RSI has a bullish divergence .
When we are in or close of a bear market we always get intervention from Central Banks .
It's up to you to work hard and make your own plan with great stocks or with the Indexes.
I am bullish because I will start to acumulate stocks not beacuse I think this is the moment to buy. That's why I look at the key points.
Well,first of all you need to control your risk, at this moment you can make a lot of money if you repect risk.
You can use the SPX as an indicator to start buying good stocks and not the SPX directly, so if you make a bad decision with a stock you will be able to survive with minimal damage to your account.
Fed and Centrals banks will implement policies worlwide to help financial markets because in times like this you have the central banks and goverments by your side.
In a technical perspective:
The Weekly chart of the SP 500 is near of the 200 Days Moving Average at $2640 and key levels of support at $2611, $2539 and if things get worse $2403 and $2327.
The daily chart:
The MACD has an extreme oversold condition.
The RSI has a bullish divergence .
When we are in or close of a bear market we always get intervention from Central Banks .
It's up to you to work hard and make your own plan with great stocks or with the Indexes.
I am bullish because I will start to acumulate stocks not beacuse I think this is the moment to buy. That's why I look at the key points.
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