I think we are still in a general uptrend in the RSI, and on the weekly chart for the VIX. Next target ~$40 after consolidating for no more than a week or two. I estimate we hit $40 by February 1st at the latest.
Based on this analysis, I go long on $DRIP to next fibonacci target of ~$33, setting trailing stop there with 5% maximum price offset.
I think in the long run, we could see $VIX and $DRIP go higher than ~$40 and ~$33 respectively, but these are my short term price targets.
With no good news in sight, and with 90 day moratorium for US/China trade talks set to end in March, I see S&P going much lower in the meantime; even with robust economic news.
Like Trump said himself, Fed must raise interest rates as “insurance” for future bear markets. I think overall we are still in a bull market, but for the short-term (up to 6 months); we are in a bearish correction.
Please do not take this as investment advice, and practice your own due diligence.
Based on this analysis, I go long on $DRIP to next fibonacci target of ~$33, setting trailing stop there with 5% maximum price offset.
I think in the long run, we could see $VIX and $DRIP go higher than ~$40 and ~$33 respectively, but these are my short term price targets.
With no good news in sight, and with 90 day moratorium for US/China trade talks set to end in March, I see S&P going much lower in the meantime; even with robust economic news.
Like Trump said himself, Fed must raise interest rates as “insurance” for future bear markets. I think overall we are still in a bull market, but for the short-term (up to 6 months); we are in a bearish correction.
Please do not take this as investment advice, and practice your own due diligence.
