As of today, the market is in line with the predictions I made last week. It’s not magic, it’s analysis and today I’m here with another update.
Last week, the SPY (S&P 500 ETF) was testing major resistance and showing signs of overbought which suggested the likelihood of a pullback. The market did a short-term pullback, as expected, and today we’re seeing a continuation to the upside. The overall market is still bullish and we’re maintaining our bullish position.
We’re bullish on the market because:
The SPY is holding above its 200-day average following a strong upwards trend and saw excellent support following Friday
The VIX is trending below 20 around 13-16 range which suggests lower volatility
Put/Call ratio suggest likelihood that the market will continue main trend
Overall, the expectation is a resumption of the main bullish trend and a re-test of recent 3/4/19 highs (SPY 280/282.50) and possibly up to 285/287.50 SPY.
The strongest sectors are Utilities (XLU) , Real Estate (XLRE) and Technology (XLK) while the weakest sectors are Energy (XLE) , Finance (XLF) and Health Care (XLV). For the past three months technology has been showing the highest relative strength and it may continue this streak.
Look for a short-term pullback in stocks like DUK, SO and EXC in the Utilities sector and stocks like AAPL/MSFT, INTC, and ADBE in the Tech sector. Keep an eye on these stocks so you don’t miss out on their explosive moves.
Luckily there is a program that can identify these pullbacks for you. Just last week Monday we took a position in Welltower (WELL) in the Real Estate sector and today we closed it out for a 53.5% gain on options in only five trading sessions!
Don’t miss the opportunity to profit from High Velocity Pullbacks and get returns of up to 339% in less than 14 days. Again, this isn’t magic this is analysis and this program does the hard work for you.
Check out the program here
P.S. Don’t forget the Jobless Claims Report coming out on Thursday the 14th at 8:30 am during pre-market trading. It will be the main economic catalyst for this week.
All the best,