Taking a break from stock market !
Looking at the long term view of current market, using SPX500 as a benchmark, I think we are getting close to another peak and a possible correction is coming.
I would be taking some profits that I had been trading on shorter time frame and leaving those I had invested as it is. That is, I wouldnt be adding more positions for now.
Possibly to go higher ? Of course! On a shorter time frame like days and weeks, it might have some more room but limited, imo.
VIX chart is showing a bottoming sign where we see strong support at 11.8 level. And once it hits there, we could see a strong rebound, a sharp spike up !
Take care of your positions!
I would be taking some profits that I had been trading on shorter time frame and leaving those I had invested as it is. That is, I wouldnt be adding more positions for now.
Possibly to go higher ? Of course! On a shorter time frame like days and weeks, it might have some more room but limited, imo.
VIX chart is showing a bottoming sign where we see strong support at 11.8 level. And once it hits there, we could see a strong rebound, a sharp spike up !
Take care of your positions!
Market can remain irrationally high and unreasonable for a long time.........