Traders Club 2019 Thanksgiving Special Promo Ends Sunday Night
What a run it has been since the early October, a parabolic run.
I was able to truly benefit from that.
Well, I have a good news and not-a-bad news.
Good news
- Trend is getting strengthened and developing here as you can see my oscillator poking its head for the first time since 2018 (similar to 2017 – see red box)
- The way market refuses to pullback, even though, clearly, we are overbought (in the minor term), it tells us that we are no longer in volatile environment (April – October) as the market is preparing for a swift run to the upside
- Any pullback would give us the opportunity to accumulate more
Not-a-bad news
- Market needs to rest/consolidate/digest after the run we had last two months
- I believe we probably not going anywhere probably the remainder of this month
- This means, could be a pullback to possibly 300-305 or just sideways and tight-range market rest of the month
- Seasonally, especially after a big run we had last two months, with Thanksgiving weekend coming, the “dull” market is upon us
- This is time to sit back and relax, and wait for the next run up and look for opportunities if we see a pullback
S&P 500 ETF (SPY) Daily-Chart: 2014 – Present
*In the micro term, we could say that, as long as the price stay above the rising-10EMA benefit-of-the-doubt goes to the buyers
SPY (daily) with 10EMA and the red box represents when the price stayed below the 10EMA pic.twitter.com/RcjFchVOlp
— Kay Kim (@2kaykim) November 18, 2019
*We are currently stalling at this level
$SPY Current resistance pic.twitter.com/7hTpelFFWC
— Kay Kim (@2kaykim) November 15, 2019
*Indices are breaking out in the intermediate term, this is bullish going into remainder of this year and early next year
(See “Market Is Breaking Out (It’s Bullish!)“)
Market continues to march higher pic.twitter.com/h7Nb6VCJwV
— Kay Kim (@2kaykim) November 12, 2019
