122 replies to this topic

[redfoliage2]

Well, intra-dips got bought vigorously as in this kind market environment buying dips likely works better than otherwise ................................ 

Edited by redfoliage2, 11 October 2024 - 12:06 PM.

[redfoliage2]

 

SPX made a breakout today as the data showing inflation continuously cooling down and the Fed is more likely to cut again at the Nov meeting.  Now GS analysts seeing a SPX 6000 target .............................

GS sees SPX 6000 in just 3 months:

"a 3-month S&P 500 price target of 6000, up from a prior estimate of 5600. They also set a 6-month target of 6100 and a 12-month target of 6300, compared to their previous forecast of 6000"

 

https://www.investin...arnings-3650371

 

 

We are likely to see SPX 5900 during this eanings reporting season ..........................

Edited by redfoliage2, 11 October 2024 - 12:21 PM.

[redfoliage2]

As VIX remaining high at 20 with the Mideast situation I'd not be surprised to see some profit taking before the weekend...................

Edited by redfoliage2, 11 October 2024 - 01:49 PM.

[redfoliage2]

BTW, ST we still own a back test on SPX 5800 ........................

[redfoliage2]

BTW, ST we still own a back test on SPX 5800 ........................

I meant we owe a back test.........

Edited by redfoliage2, 11 October 2024 - 09:34 PM.

[redfoliage2]

SPX back testing 5800 as I said at the close of last Friday. It's likely to hold as the market is in an IT bullish environment..........................

Edited by redfoliage2, 15 October 2024 - 02:18 PM.

[redfoliage2]

SPX back testing 5800 as I said at the close of last Friday. It's likely to hold as the market is in an IT bullish environment..........................

However, if 5800 failed it opens to 5700 in ST, but if 5800 holds we are likely to see 5900 before long .........................

Edited by redfoliage2, 16 October 2024 - 08:40 AM.

[redfoliage2]

Yesterday's selloff was caused by ASML's disappointing earnings.  But we should treat it as a unique case as ASML's earnings were greatly affected by the Netherlands bans Dutch chip tool giant ASML Holding from servicing its high end products in China.  It's just politics, not based on supply and demand, and thus it's not applicable in general.  I see it's just a one-day event, not a trend...................   

Edited by redfoliage2, 16 October 2024 - 09:33 AM.

[redfoliage2]

So, my real time indicator for the McClellan Oscillator indicating this dip is being bought today..........................

Edited by redfoliage2, 16 October 2024 - 01:58 PM.

[redfoliage2]

So, my real time indicator for the McClellan Oscillator indicating this dip is being bought today..........................

And the Summation index turning up as well.  It's telling me the bull-run is to continue from here..............

Edited by redfoliage2, 16 October 2024 - 02:13 PM.