Trading Signals 10.02.2024

by

in

Last Signal

Sell Signal (Short) 3.1.24: 

Entry 4706, Stop Loss 4804, stopped out -1,9%
Taking Profit 3.1.24: 4706, +12,5%

The S&P 500 continued to rise this week and broke the 5000 point mark. As already described in the last few weeks, the 5000 points is a very important psychological mark. This goal has been achieved, now the question is what happens next. The S&P 500 is more than two standard deviations from its 50-week average. In other words, to an extreme that occurs less than 5% of the time. A major correction is inevitably to be expected from such extremely overbought levels.


Comments

Leave a Reply

Your email address will not be published. Required fields are marked *