The next support level for the S&P looks to be around 2354. It will be interesting to see what happens after that but my hunch is a significant bounce.
Well there was a great surprise in my Christmas Stocking this morning as the S&P blew through the anticipated low by 10 points and ended the session on its low of the day. You can't get more convincing than that...
With such a convincing effort... and the Bollinger bands still pointing to increasing volatility... and all indicators pointing to continued downward movement... let's see if 2320 comes into play.
This might explain the big green candle on 26 December
https://www.zerohedge.com/news/2018-12-26/why-stocks-are-soaring-massive-64-billion-buy-order
Yes saw this Alan...
Looks like we can upgrade to a Double Latee!!!
Your thoughts?
You bet! I set my GaS stops fairly tight last night and they were above entry for all. Uncertainty over the S&P rising further was the only potentially negative indicator I could see. Both G and S seemed to be stalling and another big upsurge in them seemed improbable. The stops were triggered very close to the daily highs.
The indicators still look positive for GaS (having improved further for silver) and the S&P was getting nowhere when I last checked so I aim to re-enter next week, maybe after a pull back.
