Consolidation at Highs

The market has been on a ST consolidation at highs, and dips are likely to be bought as SPX is likely to move toward its next target at 5800 before the Fed meeting on Nov 6-7 ........................

With the Fed easing backdrop hanging there I see this dip is to be bought ..................................

Well, my SPX 5800 target looks conservative as this famous author and analyst even sees 'Outright Melt-Up’ in Stocks:

https://finance.yaho...-171553281.html

Edited by redfoliage2, 24 September 2024 - 10:35 AM.

I agree a meltup is possible.  However, I'm looking for my economic signals to improve.    I do think we go higher, but at the moment, I'm thinking it is a grind higher. 

Two key economic data to be released before the week ends - GDP on Thur. and PCE Friday.  They are likely to fit into the current Fed outlook and the market is likely to go higher upon the data ....................

Edited by redfoliage2, 25 September 2024 - 12:29 PM.

Two key economic data to be released before the week ends - GDP on Thur. and PCE Friday.  They are likely to fit into the current Fed outlook and the market is likely to go higher upon the data ....................

BTW, tomtorrow we are more likely to see U.S. GDP better than the ression fears .............................

Okay so we can put you down for long the market at the close today lol?

Okay so we can put you down for long the market at the close today lol?

You are sounding too worried about your shorts 

 

Two key economic data to be released before the week ends - GDP on Thur. and PCE Friday.  They are likely to fit into the current Fed outlook and the market is likely to go higher upon the data ....................

BTW, tomtorrow we are more likely to see U.S. GDP better than the ression fears .............................

 

Well, I meant "recession fears"

 

Okay so we can put you down for long the market at the close today lol?

You are sounding too worried about your shorts 

You should as PCE going to be as benign as the Fed would like to see.  Wake up Dude, it's about the presidential election time ..............................

 

Edited by redfoliage2, 25 September 2024 - 02:04 PM.