SPX: Breakdown of the downtrend, and longer term signals

SPX is getting extremely interesting, now that VIX has spiked for more than 5 points on the current market decline. I'm monitoring the decline to catch the exact bottom in the market, which I think can end up matching the bottom in oil, and the energy sector, and a great chance to add to my EEM longs too, and acquire more latin american stocks.
I updated my time at mode analysis for SPX in the yearly timeframe, and there's a target at 2987usd, so, we might end up seeing that after the correction bottoms.

Best of luck,

Ivan Labrie.

Commentaire:

Commentaire:

$SPY has bottomed for now. We had a 75% retrace of the recent $VIX spike

Promising for our longs.

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Support holds...

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We approach the end of the time required to rally again.
Keep an eye out for $VIX today, the bottom might take place today.

Transaction en cours:

The correction looks to have ended, but the signals here call for a breakout after the 24th. I'm long $SPY from 236.19.

Commentaire:

Looking at $SPX...we hit one of the long term targets, but we still have time to potentially continue the rally