S&P 500 Approaching the Major Resistance: Time to Sell?

The stock market (S&P 500) is nearing the level at which it started the major correction in early December of 2018 – right around 2800. Note, since late December of 2018, the stock market has surged, in an apparent V-shape recovery. So, is it time to take some profits, or even go short, or just continue to buy betting on the breakout and the new all-time highs? The Fed’s turning point and the committed patience on the next move supports the bullish outlook. However, the next major directional move in stocks is highly dependable on the US-China trade deal. Also, the Muller report is forthcoming. The Brexit is still pending. Uncertainty anybody?


Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s