Stock Markets Analysis & Opinion

And They’re Off! Bulls Are Rushing In

After a week of dithering around, the bulls have finally grabbed the baton and are rushing down the track. At this point, it seems that the long-cited target of 3900 (more precisely, 3906) on the S&P 500 Futures is on the horizon:

S&P 500 Futures 30-Minute Chart.

The Nasdaq 100 Futures is similarly making a run for its former failure point:

NASDAQ 1-Hour Chart.

As for my own portfolio, I have gone shrieking off in the opposite direction:

  1. Trimmed positions from 39 to 28;
  2. Raised cash from 0% to 33%;
  3. Got rid of my final September option, which means nothing expires before Oct. 21, 2022;
  4. Back to “wait and see” mode for new opportunities, since I think I’m going to step aside for this bounce.

Source

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