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Daily S&P 500 INDEX TRACKER
US Calendar:
U.S. ISM services index rose to 50.9 in Sep, above median 50 vs 48.4 Aug
Bond Market:
U.S. 10-year TIPS sale awarded at 1.51%, firm cover 3.12, indirect bid 44%
Treasury yields rebounded after firm TIPS, options trade faded Friday rally
Stock Market:
...SPX 500 is extending its rebound today after a successful defense of the 31 August Close *1020 and the 50 MA *1016; the index penetrated the initial up target *1041 intraday, but finished on the weak side *1040
...its successful defense indicates that *1016 remains a short term floor, but the continuous weak finish in the major US indexes also indicates and strenghtens the double top view in the *1080/*1092/*1119 target range; only an unexpected Close below SPX 500 *1016 would negate this scenario and would confirm, that the expected 20% (+) sell-off during Q4 is already well on its way
Trading Strategy: sideline (safest);
-hedge: neutral to bullish bias to *1018/*1044/*1100; no equity exposure;
-hedge: short 10% equity covered; short bias (+); with equity exposure;
Long Term: THE BEAR
_no guarantees and trading strategies are just ideas_
Kind Regards
in contrast: a long-term BUY/HOLD Strategy with personal regards ("Ananda, I feel a bit mean featuring your posts like this, but maybe there is something we can all learn from it."
Regards, Phaedrus.) from no other than 'The Greatest Phaedrus' (see attachment)
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