We think we are a little off on our timing with the S&P 500 – but not too much.
In our last update we expected a move up to the red resistance line then a sharp move down to our long entry point. As yet, this has not happened but this Index has “run out of steam”.
We are still expecting a sharp move down and if this does happen it could be “short lived” and a great opportunity to add to existing long positions.
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