May 7, 2024

Hello,

This will be a text update as I’ve been busy with work and study.

So, the inverse-Head-and-Shoulders call worked, and we are around 5182 SPX as of 8:27 AM - 5/7/24. (Self-Pats on the back)

“Ok, good job, but what now!?”

We are in a difficult spot now and raising stops on your entries wouldn’t be out of the question. Basically this was where the waterfall started in SPX, and a little regression analysis shows we are near around the time of September 2023 or August 2023, or October 2023.

Swift move down, followed by an equal swift move up. Someone shared we haven’t seen this much of a move up since November 2023.

“Ok, so what does this all mean?”

Good question!

Caution as we proceed higher, specific resistance to watch is 5199-5205 SPX if we continue higher, but nothing says we can’t just come down now at the open.

As for me, I’m in some stocks in the tech. sector and I bought some GLD/SLV, VNQ, DRN. Alongside some companies that basically produce commodities (toothpaste, soap, etc.), and cheap provider-to-consumer companies (such as Costco). I entered some higher end niche positions too, such as CAVA, SHAK, and SG.

LOAR is an IPO I’m watching that I may just park a small amount, it’s the first aerospace company to IPO in quite some time, and with all the issues BA (Boeing) is having it is interesting.

TL;DR:

Caution ahead, I’m raising stops.

Disclaimer: Please note that all information shared here and in the video is for informational purposes only and not intended as financial advice.