The year-end cross currents continue. Our Current Market Outlook is being downgraded quickly again to “Uptrend Under pressure” with a yellow light (SPX @ 4,026.54) as of 11:30am this morning. Currently our “Core Four” (see top of page) has 3 green and 1 red light.
A whipsawing market is taking shape. A key test of the S&P 500’s 21-day mav is upon us. A strong market will hit it and bounce up and off it powerfully. A weaker market will slice through it and make a beeline to the 50-day mav. Much will be determined within the next 9 trading days based on looming data announcements. Buckle up.
Game plan: Watch to see if the S&P 500 will move back up and over its 200-day mav immediately or if it slices lower through the upward rising 21-day mav. Continue to employ risk management tactics. Expect the market could have a violent 2 – 3 day drop towards the S&P 500’s 50-day mav.
Note: You can learn more about The Triumphant Core Four risk management system by clicking here.
Have a Triumphant day! ®
The information in this article is based on data obtained from recognized services and sources and is believed to be reliable. Any opinions, projections or recommendations in this report are subject to change without notice and are not intended as individual investment advice. Not to be used as legal or tax advice. ©2022 Triumphant Portfolio Management, LLC.
Where Are Woodward and Bernstein When We Need Them? This article was written by Newt