A warning shot?
The risk off flows have triggered an initial selloff in US equities; this is starting to reach extreme levels and a pullback would be healthy. To give bulls confidence we will need to get a close back above the 2973.xx to end the current leg, only then will we be able to trade anything to the topside.
To the other side; a close underneath 2822 will trigger further momentum in the move and open targets initially at the 38.2% retracement followed by 2670 and 2586. Highly recommend all to track S&P for reference in the risk flows. Notably studies are showing the latest swing already moving from oversold levels to neutral valuation levels.
Best of luck all those in US Equities for the remainder of 2019... ride the pig.
To the other side; a close underneath 2822 will trigger further momentum in the move and open targets initially at the 38.2% retracement followed by 2670 and 2586. Highly recommend all to track S&P for reference in the risk flows. Notably studies are showing the latest swing already moving from oversold levels to neutral valuation levels.
Best of luck all those in US Equities for the remainder of 2019... ride the pig.
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