What the Future Has in Store for SPX
As predicted two months ago on this day, SPX went short, falling 500 points in January.
It climbed back up to retest a key level only to finish out below the 100 Fibonacci level.
At this point, it is hard to make an accurate read on what exactly price will do now. The war between Ukraine and Russia complicates life and this is something I certainly have no real-life experience with.
My instinct?
I'll be going to look at other times of war and see what the market did and how it responded.
However the severity of this feels larger than when the US invaded and occupied the Middle East. This is an economic war, and while yes, I am sorry and praying for the lives lost, I believe we will see actions to minimize Russia's economy. What this does to world's is yet to be seen, although we do know the energy sector is likely to take a hit from Russia likely denying EU their 40% supply of natural gas.
It's a shame to be looking for a profit in times like these...although times like these are emphasizing that depending on the size of your checkbook, your help is very limited to sharing sympathies online.
Sadly I never took my own trade idea here, I didn't have the capital and could only watch. However if you were able to, let me know in the comments. It makes me happy knowing that, maybe, my idea helped someone get ahead in life.
Cheers, and be well and kind.
It climbed back up to retest a key level only to finish out below the 100 Fibonacci level.
At this point, it is hard to make an accurate read on what exactly price will do now. The war between Ukraine and Russia complicates life and this is something I certainly have no real-life experience with.
My instinct?
I'll be going to look at other times of war and see what the market did and how it responded.
However the severity of this feels larger than when the US invaded and occupied the Middle East. This is an economic war, and while yes, I am sorry and praying for the lives lost, I believe we will see actions to minimize Russia's economy. What this does to world's is yet to be seen, although we do know the energy sector is likely to take a hit from Russia likely denying EU their 40% supply of natural gas.
It's a shame to be looking for a profit in times like these...although times like these are emphasizing that depending on the size of your checkbook, your help is very limited to sharing sympathies online.
Sadly I never took my own trade idea here, I didn't have the capital and could only watch. However if you were able to, let me know in the comments. It makes me happy knowing that, maybe, my idea helped someone get ahead in life.
Cheers, and be well and kind.
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