• 262 days Will The ECB Continue To Hike Rates?
  • 263 days Forbes: Aramco Remains Largest Company In The Middle East
  • 264 days Caltech Scientists Succesfully Beam Back Solar Power From Space
  • 664 days Could Crypto Overtake Traditional Investment?
  • 669 days Americans Still Quitting Jobs At Record Pace
  • 671 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
  • 674 days Is The Dollar Too Strong?
  • 674 days Big Tech Disappoints Investors on Earnings Calls
  • 675 days Fear And Celebration On Twitter as Musk Takes The Reins
  • 677 days China Is Quietly Trying To Distance Itself From Russia
  • 677 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
  • 681 days Crypto Investors Won Big In 2021
  • 681 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
  • 682 days Food Prices Are Skyrocketing As Putin’s War Persists
  • 684 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
  • 685 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
  • 688 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
  • 689 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
  • 689 days Two ETFs That Could Hedge Against Extreme Market Volatility
  • 691 days Are NFTs About To Take Over Gaming?
The Problem With Modern Monetary Theory

The Problem With Modern Monetary Theory

Modern monetary theory has been…

Another Retail Giant Bites The Dust

Another Retail Giant Bites The Dust

Forever 21 filed for Chapter…

Market Sentiment At Its Lowest In 10 Months

Market Sentiment At Its Lowest In 10 Months

Stocks sold off last week…

  1. Home
  2. Markets
  3. Other

Scenario 1 On Track

On Saturday, we post two different scenario that could be under development.

It looks like the first one is currently under development. Here is the chart we posted on Saturday (The Sigma Whole Market Index is the aggregate of 16 US indexes):

Sigma Whole Market Index

With this scenario in mind, we decided to cut our long position just after the European Market open at 1342.69. Then, we introduced a buy order at 1308 in order to take benefit of the expected pullback.

Our order was filled at the end of US session at 1307.77.

For those of you interested in our intraday move, we post all our trades (in real time) on our site.

Looking at our indicators, we can notice that the Sigma Trend Index (STI) fall back to '-2'. It is in line with a pullback scenario, but it must move (quickly) above the zero line.

Sigma Table

Conclusion:

We don't have new information coming from our indicators, but it looks like our scenario is under development. We believe the 1350 - 1360 area is achievable in coming days:

SPX

Current position: long @ 1307.77 (stop loss @ 1285)

Have a nice day,

 

Back to homepage

Leave a comment

Leave a comment