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#11 12SPX

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Posted 27 September 2022 - 07:59 AM

kwave, Facebook Netflix  Apple Tesla Softy and Google CAN do it coz IMHO they were highly inflated.

SP500  has many companies which are not inflated. For example Ford selling at below 5 P/E.

But if capuitulation takes place anything can happen. I will be shocked if SP500 gets to 2300 in 2022 0r 2023.

Actually the S&P could be around 2400 in 23, there is a strong probability of it but it won't go there like people think we will, it'll be a grind then a swift sell off to find a bottom that still won't see new highs for a long time to come.  In my view were more like the 2000-2015 style of trading which was mostly sideways...



#12 redfoliage2

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Posted 27 September 2022 - 11:25 AM

SPX 3600 support going to be tested soon.  The ultimate low will be the Covid low from March 2020 ....................

You mean SPX 2300? That would be simply shocking.


Thats from where the Fed pumped trillions and its now aggressively doing a rollback of the liquidity it pumped for the Covid pandemic.
BTW, lets see if SPX 3590 instead of 3600, can be a support or not ..,

#13 redfoliage2

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Posted 27 September 2022 - 11:27 AM

SPX 3600 support going to be tested soon.  The ultimate low will be the Covid low from March 2020 ....................

You mean SPX 2300? That would be simply shocking.

Thats from where the Fed pumped trillions and its now aggressively doing a rollback of the liquidity it pumped to save the economy from the Covid pandemic.
BTW, lets see if SPX 3590 instead of 3600, can hold or not near term..,


#14 pdx5

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Posted 27 September 2022 - 01:02 PM

I expect weak market through October. If Congress goes republican in early November my guess is we get a tradeable rally.
"Money cannot consistently be made trading every day or every week during the year." ~ Jesse Livermore Trading Rule