Yesterday’s forecast worked out reasonably well. From the members’ section:
I’m looking for a pop in SPX to the purple .618 at 2060.74, after which we might see it retreat.
Then, after reaching 2060.74:
Just reached our first target at the .618. I think it’ll keep going, probably up to the .786 at 2065.87 — though it might not be a straight line.
We took a shot at a short position at 2065, but with the understanding that we might be premature:
I’d take a crack at shorting it here at 2065.72…If I’m wrong, we should see the .886 at 2068.92 instead.
SPX topped out at 2070.86 before closing at the .886 at 2068.34.
This morning, we have a battle between the ill effects of tumbling oil prices……and the carry trade magic of a rising USDJPY. Which will win the hearts and minds of equity investors? Or, more accurately, which will trigger the stronger algos?
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