In Cash
SPX put in a new all time high last Monday. Since then, it has been selling off. Chances are good that SPX rallies this coming Monday to test its PDL around 2075. Should SPX fail to break through and close below its PDL, SPX would very likely sells off again to test its 50 D-SMA around 2035. A close below 50 D-SMA would signal more selling to test AUL somewhere between 2030 to 2020.
My plan is to open long positions as SPX reaches 2030 to 2020. I'm doing my first buy of three. I'm buying SPY, QQQ, XLF, IBB and XLK (equal $ amounts).
Disclaimer: The views expressed are provided for information purposes only and should not be construed in any way as investment advice or recommendation. Furthermore, the opinions expressed may change without notice.
Posts
