Good Morning!
The
VIX is having a hard time in this area since March of 23.
The
SPX is the most oversold since 9/22 but it can get more than what it currently is.
However!!!
Peak oversold seldom is the bottom!
Only 12/18 was an oversold bottom.
1/22 was a temp bottom.
Big bounces are likely best to short unless there's a big change in technical data. As we stated before, likely rate cuts next year to help if #stocks (#economy) are still weak in 2024.
SPY
The
VIX is having a hard time in this area since March of 23.The
SPX is the most oversold since 9/22 but it can get more than what it currently is.However!!!
Peak oversold seldom is the bottom!
Only 12/18 was an oversold bottom.
1/22 was a temp bottom.
Big bounces are likely best to short unless there's a big change in technical data. As we stated before, likely rate cuts next year to help if #stocks (#economy) are still weak in 2024.
SPY
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.