Are we bag holders going long? Surely, it seems that way and feels that way, but there is no reason to go short. I anticipate that going into 2019, the short, bears and doom-sayers will be caught in a trap.
The SPX500 drop is an opportunity to go long. First, I did a daily analysis, then a weekly and now a monthly analysis.
Monthly:
MACD still positive
Stoch oversold
Monthly supports still intact
RSI dipped below 50, so, we wait to add more to the long side week the weekly steam picks back up.
Weekly: tradingview.sweetlogin.com/proxy-s3/f/fRWzQ8Kv_mid.png
The SPX500 drop is an opportunity to go long. First, I did a daily analysis, then a weekly and now a monthly analysis.
Monthly:
MACD still positive
Stoch oversold
Monthly supports still intact
RSI dipped below 50, so, we wait to add more to the long side week the weekly steam picks back up.
Weekly: tradingview.sweetlogin.com/proxy-s3/f/fRWzQ8Kv_mid.png
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Related publications
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.