• 347 days Will The ECB Continue To Hike Rates?
  • 347 days Forbes: Aramco Remains Largest Company In The Middle East
  • 349 days Caltech Scientists Succesfully Beam Back Solar Power From Space
  • 749 days Could Crypto Overtake Traditional Investment?
  • 753 days Americans Still Quitting Jobs At Record Pace
  • 755 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
  • 758 days Is The Dollar Too Strong?
  • 759 days Big Tech Disappoints Investors on Earnings Calls
  • 760 days Fear And Celebration On Twitter as Musk Takes The Reins
  • 761 days China Is Quietly Trying To Distance Itself From Russia
  • 762 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
  • 766 days Crypto Investors Won Big In 2021
  • 766 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
  • 767 days Food Prices Are Skyrocketing As Putin’s War Persists
  • 769 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
  • 769 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
  • 773 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
  • 773 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
  • 774 days Two ETFs That Could Hedge Against Extreme Market Volatility
  • 776 days Are NFTs About To Take Over Gaming?
Billionaires Are Pushing Art To New Limits

Billionaires Are Pushing Art To New Limits

Welcome to Art Basel: The…

The Problem With Modern Monetary Theory

The Problem With Modern Monetary Theory

Modern monetary theory has been…

How The Ultra-Wealthy Are Using Art To Dodge Taxes

How The Ultra-Wealthy Are Using Art To Dodge Taxes

More freeports open around the…

  1. Home
  2. Markets
  3. Other

Daily: Is The Market Able to Bounce Back From Here?

Looking at the chart, it seems obvious that this move is not impulsive and as long as the market remains above the two pink lines, a new high remains possible.

Sigma Whole Market Index

Looking at our indicators, there is no sign of impulse, both the Swing and the Power Level (PL) are neutral at '3'.

The Sigma Trend Index is close to zero, so we have to mnitor if the market is able to bounce back from here.

Sigma Trend Index

As none of the stops has been reached on our short term model (1526.97 on SPX and 2758.13 on NDX), it remains in 'buy' mode (at this stage) for both the NDX and the SPX:

SPX Trading Table

NDX Trading Table


Conclusion:

Current move doesn't look like an impulse move, and this situation is confirmed by our indicators. In this context, we don't want to have a short term short position and we will close our short term short on the CAC40 at market open.

For those of you interested in our intraday move, you can visit our site during the day: we post all our trades in real time. You can also subscribe to our twitter account (@SigmaTradingOsc), it is free and you are updated on our latest view/trades.

Short term positions:
- short 1/2 CAC at 3852.02

Medium term positions:
- short 3 SPX at 1446.09
- Short 1 NDX at 2758.8
- short 2 CAC at 3251.07

 

Back to homepage

Leave a comment

Leave a comment