IT IS TIME TO TAKE SOME TIME OFF
First of all, sorry for no weekend update!
Let’s go straight to the charts, below daily SPX. The price pattern/action doesn’t look bearish to me (yet). Normally that should break to the upside.
On a 60min SPY, bears are trying to push prices down
VIX signaled a short term buy signal last week but I seriously doubt how much upside potential vs. risk there is, especially when looking at the bigger picture… SPX is year-to-date +11.85% and that is quite much. We could see another few +% but I feel the gains are so small that it is better to focus the time on other things. That’s why I’ll take some time off, I’ll post updates when things get interesting again.
It is also very boring to stare at this dead man’s heart beat and also very easy to make mistakes in this market environment.
Trading suggestion: unless you are market addicted, it is time to take some time off.
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