My take, currently bearish atmosphere, but only mildly so. This month probably a bit of too'ing and fro'ing back and forth. SPX daily bars have gone above MA200 recently, it may drop below again just to confuse everyone, but ultimately we are setting up for a rally later in the month.
1. I don't know about next week... "correction in an ongoing bull market", or "bear market has begun" ?? 2. IF the bear market has begun, there will be a few furious rallies which convince some (1) the dip is not part of a bear market, or (2) the bear market is over when in fact it is not. Last week's rally could have been such a thing. 3. The rally peaked(?) at the 62% Fib, at least so far. That's a thingy the market is likely to do if it's bearish. Suggest keeping that in mind whatever your play.
I think the correction is not over yet but the general trend is still bullish, interest rates are not too high yet. This correction will be a great buying opportunity.
Can you expand? I've noticed the last three years bullishness into August with selling/stagnation all the way into December. From a purchasing point of view, I would've expected good numbers until November
There are something that is surely going to happen and will happen. there will be lots and lots of signals for you to long and short. there will be lots and lots of continuation and reversal signals. just trade based on what you see from the chart accordingly. and zero out predicting the future. So make hay while the sunshine, Spend more time trading, and make tons of money since there will be tons of opportunities.
Totally in agreement with Maxinger. I see risky doing portfolio now. Have a good time with the waves.
Seasonally, the period after thanksgiving has a very good risk/reward for bulls. Based on my backtesting that is. That alone isn't enough to earn great returns but it's what I recommend for people who have some money to put down but no idea about trading.