ChartArt
Short

S&P 500 gap closing pullback after hitting 2727 points

SP:SPX   Der S&P 500 Index
A short-term pullback closing the recent gap below 2719 points is possible in the next days, after the market rallied beyond 2729 today.

A tight stop loss is recommended in case the market makes new all-time highs in the next week.

Short entry: 2728
Stop loss: 2735
1. Target 2714
2. Target: 2700

Risk to SL at 2735: 7 points
Reward (1. Target): 14 points
Reward (2. Target): 28 points
Trade geschlossen: Stop wurde erreicht: The latest US Nonfarm Payrolls data was released today:

"Non-Farm Payrolls disappoint"
https://www.fxstreet.com/analysis/us-labor-market-report-non-farm-payrolls-disappoint-201801051543

"Non-farm payrolls increased by 148,000 in December, clearly below market expectations of a gain of 190,000. In addition, the numbers for the two previous months were revised downwards by 9,000 in total."

"US created only 148000 jobs in Dec, vs 190000 jobs expected"
https://www.cnbc.com/2018/01/05/us-nonfarm-payrolls-december-2017.html

"The retail sector lost 20,000 jobs despite the holiday shopping season." "A little bit of a disappointment when you only get 2,000 jobs out of the government and get retail at the absolute busiest time of the year losing 20,000 jobs. It just goes to show the true struggle that traditional brick and mortar is having now."


Because this important data is bearish, the market rallied like crazy to new all-time highs - beyond my recommended stop loss level for the short. Let's see if next week starts a decline to digest all this madness for a moment.


January 9 acted somewhat like January 4 did. The S&P 500 opened with yet another gap higher, but later the market got weaker and weaker towards the close. Maybe all those open gaps get finally filled in the days ahead:

Antworten
January 18, 2018 will tie the longest time duration ever to not have a 5% pullback in the market. 394 days!
I would be very surprised if the market holds up a lot longer then that before at least a 5% pullback.
When this is complete we will have a very big correction.
Loot at the Wilshire 5000 index in relation to our GDP currently at 142.9% very close to the March of 2000 when it reached 148.5%
Anything over 100% is considered overvalued.
Also April 18, 2018 will make this the 2nd longest bull market since 1850's.
If the market can hold up past June 2019 it will make this the longest bull market in Us History!
Please share though
+1 Antworten
Here is a screenshot from this gap, which can cause a pullback (5min chart):

Antworten
ChartArt ChartArt
@ChartArt,

A pullback has begun

Antworten
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