NFTRH 566 Excerpts on the Stock Market

Because being prepared as opposed to pretending you can predict the future is the only rational way to manage a market on an ongoing basis, we had two scenarios open per the below.

The weekly chart gives better perspective on the two scenarios. The stock market is trending up (EMA 20 & EMA 50) but is at resistance with a negative RSI divergence and a MACD down trigger. It is entirely capable of breaking down from resistance, especially considering the RSI divergence. But so too could it blow out the current skittish public backdrop (“OMG, the Yield Curve is inverting!!!”) by blasting up to retest point 5 before a potential correction.

It is for these reasons that I am remaining balanced in my portfolios in the short-term.

spx

And here is the stock market portion of the Wrap Up segment summarizing the view for not only SPX, but the global picture.

Side Note: I currently hold Russia, Brazil, India and a few China/Asia positions.

Look, I have absolutely zero marketing help unlike the newsletters you know about all too well with their vast armies of copywriters, promoters and influencers. So the above is my promotion of the service that I not so timidly consider to be the best, most comprehensive of its kind.

Not to claim we are definitely going to point #5 on SPX, but we certainly were prepared for today’s joy fest that is going to have the Men Who Stare at Charts and media alike soon delivering the after the fact news to the masses. The thing is to be looking ahead and having logical options at the ready.

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