It seems S&P500 have a rough time clearing the 50 day moving average. Take a look at then chart to see that it might be profitable to sell short at the moving average.
Lets see if it dips below 75 dollars on the SPY. My feel is that we might not reach the low of 68 dollars, but i am not gonna guess but just keep watch.
Looks to me that USO have finally broke out of its 50 day ma funk. MACD, RSI(2) and Slow Stochastic all look over bought. Let see if it will stay above the moving average.
The chart above is the 6 mth GLD chart. I entered a trade near fridays price, based on the MACD signal. The thing about gld is that it will just run away from you if you are not careful. I decide to take this risk for fear of missing out another run. But watching the downside at 90 very intently. If it moves to 90, then there might be a double top forming short term wise like the one in end Oct 2008.
I haven’t been following emerging markets for sometime, cause i normally think the correlation with S&P500 should be close in this bear market. I was wrong there. The chart above is that of iShares MSCI EMIF ETF. It just bounce off the 100 day EMA with stochastics looking extreme.
We look to see if it will retrace all the way to 20.62 or will it managed to hold at 22.50 and continue its uptrend.
Kyith is the Owner and Sole Writer behind Investment Moats. Readers tune in to Investment Moats to learn and build stronger, firmer wealth foundations, how to have a Passive investment strategy, know more about investing in REITs and the nuts and bolts of Active Investing.
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Kyith worked as an IT operations engineer from 2004 to 2019. Currently, he works as a Senior Solutions Specialist in Insurance Start-up Havend. All opinions on Investment Moats are his own and does not represent the views of Providend.
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