runningalpha's JumboTweets
USA Equity Bull Intact -- Running Alpha Capital Market Intelligence Explains
Running Alpha Capital Markets Intelligence has great news -- Our Proprietary Intelligence is indicating that Sentiment Market action and the volatile basing process which started building yesterday is extremely bullish for S&P 500, especially as we progress beyond Jan 20th, and beyond 27th period, we should see that this trend has very long legs. 1960 and 1995 area is where this short covering rally in S&P has potential to carry from here. But once it pushes above 2036 in the first quarter, we should charge to new highs. Even though we are up over 40 handles on the S&P 500 TODAY, we can follow-through much higher and much faster than anyone could imagine.
Bearish Canada and Bullish USA into mid year, and beyond. In the short term only, I except that if a pop in Oil short term yields a dead cat bounce above $31.70 that could open a window for short covering rally in the nearer term, but not an investment in energy, as trend is overall very bearish with huge volatility. Also, we are up against short term resistance in the US Dollar Index -- so if Yen and or Euro get a short covering bounce, then that could put a bid in Crude Oil Futures from only a trading perspective. 33, 34, 37 and 39 handle are areas that fall within normal variation of a short covering rally. Nothing has changed in terms of huge downside risks to energy sector.
The intraday rally ranges upcoming should make the sell off of yesterday in USA equities look like a blip on the chart for the USA. 1874 was hit overnight on S&P 500 Futures, so any future retests in the worst case before these January key dates would be contained at 1833 plus or minus an average true range. For now, the rally is firmly intact, and a bottom either has been made or will will be made before we pass these key dates mentioned above. - Should be a great year. Right now, everything I look at is telling me we should be more bullish than ever on the USA equity markets.