Not your financial advisor.
I see a square up coming down the the circled area around 2500-2600 - they went up too fast when coming back from the big bad December plunge. I see a small bounce from there once it hits that area because there is pretty decent market acceptance (or, volume/price stability around that trading range historically if you look back to 2017-2018) around that area as a whole. After that bounce, it's anyone guess as to what could happen. It could resume moving upwards, but I have a cap to this upside move around the 3100-3250 range if it does.
I think the more likely scenario is that we're witnessing a topping head and shoulders pattern being put in. And look at the news too - they've already started spreading FUD like crazy with the treasury yield inversion garbage, economic slowdown, Eurozone slowing, etc. The treasury yield is the most striking to me because more often than not the mere news of it is enough to cause a corporate lending slowdown itself to fulfill the prophecy that has been attached it all-too often. Whether it is true or not, you can't argue against the fact it has preceded economic downturns for the past 45 years. I don't see 2019 as being some sort of magical time where this breaks the mold. Not with everything going on in global trade.
There is a pretty big market acceptance area around 1900-ish. I'd be really surprised if it goes much lower than that in the intermediate-to-longer terms.
I'm personally what you people who watch cryptos would call 'Tethered up', and just holding, waiting for the right time. If you're dead-set about getting into the markets, I'd suggest global/international funds as a decent asset class to look at. The U.S. and China I'm a little wary of, but I think some of the developing markets will help out.
Trade safe!
-C
I see a square up coming down the the circled area around 2500-2600 - they went up too fast when coming back from the big bad December plunge. I see a small bounce from there once it hits that area because there is pretty decent market acceptance (or, volume/price stability around that trading range historically if you look back to 2017-2018) around that area as a whole. After that bounce, it's anyone guess as to what could happen. It could resume moving upwards, but I have a cap to this upside move around the 3100-3250 range if it does.
I think the more likely scenario is that we're witnessing a topping head and shoulders pattern being put in. And look at the news too - they've already started spreading FUD like crazy with the treasury yield inversion garbage, economic slowdown, Eurozone slowing, etc. The treasury yield is the most striking to me because more often than not the mere news of it is enough to cause a corporate lending slowdown itself to fulfill the prophecy that has been attached it all-too often. Whether it is true or not, you can't argue against the fact it has preceded economic downturns for the past 45 years. I don't see 2019 as being some sort of magical time where this breaks the mold. Not with everything going on in global trade.
There is a pretty big market acceptance area around 1900-ish. I'd be really surprised if it goes much lower than that in the intermediate-to-longer terms.
I'm personally what you people who watch cryptos would call 'Tethered up', and just holding, waiting for the right time. If you're dead-set about getting into the markets, I'd suggest global/international funds as a decent asset class to look at. The U.S. and China I'm a little wary of, but I think some of the developing markets will help out.
Trade safe!
-C