Ths short-term count still has 5 waves down and three up, and has not breached the .618.
| SPX 5-min |
Spicy time is coming. Support @1380.
| SPX daily |
Tuesday, August 13, 2019
The Feds panicked today
Not "The Fed", but the Trump Administration itself panicked today with the tariff delay, because they can see for themselves how quickly the situation is deteriorating. They can see it; they know.
Ths short-term count still has 5 waves down and three up, and has not breached the .618.
Spicy time is coming. Support @1380.
Ths short-term count still has 5 waves down and three up, and has not breached the .618.
Spicy time is coming. Support @1380.
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3 comments:
Good luck, lads.
s&p now within 24 months (give or take a month or two) from hitting 4,000. (even armstrong is now on board calling for dow jones 35,000 by 2021) . economy is just too strong and getting stronger in spite of the donald still not getting a trade deal done. there should be at least a 10%+ pullback between now and then with possibly a couple 5% pullbacks along the way.
as for "the recession" the mainstreet keeps talking about, don't see one for at least 3-4 years which by then we could possibly see s&p print a 5k number.
so far, 2019 is the best year for the s&p during trumps presidency---3rd year ; )
no reason to sell if you're in for 3+ years.
Armstrong has always been on board a phase transition - blow off bull move similar to what happened going into the 1929 peak - and has mentioned 35,000 numerous times. What he has persistently said on rally attempts is "not ready for prime time yet." His prime set-up is what he terms calls a sling shot, where stocks sell-off hard to get the bears fully positioned, then wipe out the bears as stocks rocket to new highs.
Pre-prez years are usually good, though that's what they said in 2007, and bad things often happen in election years, such as 2000 and 2008.
When bond yields start to rise then you'll have your recession, and bonds always rise while in this position, and may have already begun so.
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