And what I expect the market to do next
Hey gang, Welcome back to the trading week. It's going to be a busy one. Exactly as expected, the S&P paused (just for a few days this time) and then dropped below the June lows. From here, the SPY's next significant support levels down are 350, 340, and 320. 350 is highly likely to be hit, and we'll see how the behavior looks at that point. There's no real point in looking too far ahead, and we could still retrace before then. The medium-term outlook is still bearish. But markets are looking even more oversold this week. That means the likelihood of another pause or retracement for the markets to catch their breath is even higher right now. Remember to NOT be greedy and protect your profits early in this turbulent market! Now, here's our weekly watchlist so you can get your bearings on some major opportunities: | |
Wishing you all the success this week. | |
Cheers,
Guy Cohen P.S.: One other stock that is moving a lot this morning is GOOG. They're up over 2% in the early market. With earnings coming up this month, now is a great time to learn about Jack Carter's Google Cash Generation Blueprint. The name of the strategy speaks for itself. This guy is a Wall Street income trade strategy genius and you'll want to hear what he has to say. Check it out here | |
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