The Charts Say We’re On The Edge Of A Move

Space Grey Ipad Air With Graph on Brown Wooden Table

Image Source: Pexels


The S&P 500 is in a funny place right now. On the chart I’ll show you in a second, it appears the market’s ready to make a breakout… or drop… by about 5%.

I won’t claim to have a crystal ball; it could go either way. That means we need to find a setup that’ll treat us right in either case.

I think we’re seeing something in the ongoing release of very mixed employment data that’s likely to point us in the right direction.

Tomorrow we’ll get confirmation of whether America’s still hiring, still growing and expanding… or beginning to slow down.

Consumer discretionary stocks are the key to this. Good data will tell us to play them one way, disappointing data will prompt us to use them in another.

Here’s where I think we’ll get the best results…

Video Length: 00:11:09


More By This Author:

The Market Is Stuck In A Volatility Box
The Bulls Backed Down The Bears (Again) - Here’s What To Do
Here’s The Upside In Redefining The Bull Market

Disclaimer: This article is republished from The Conversation under a Creative Commons license.

How did you like this article? Let us know so we can better customize your reading experience.

Comments

Leave a comment to automatically be entered into our contest to win a free Echo Show.
Or Sign in with