We still believe that 3089 level will get achieve soon but it will be crucial on short term resistance. We recommend staying long in stocks and don’t short market.
Globally markets will move higher as well, but USA stocks will still be outperformed. Still I am holding predictions of S&P moving toward 3200 by the end of this year and 3800 next year. Jupiter will be key one for this market, it is changing on 5th November morning in Asia.
Stay long in MSFT, GOOGLE and AMAZON. Microsoft and Apple are best bet for the medium term.
Thursday and Friday are positive days for market so trade accordingly. Some stocks like PBYI, EXTR, VIAV, CLVS and many biotech small companies are in buying list. VIAV is 5G company in this level.
On Wednesday Apple, OLED, SBUX and Facebook announced earning. All these stocks went higher, Facebook also gained, in our yesterday’s earning report we stated that wait to rise after earning and then sell Facebook. Stock went sharply and we recommend selling but one other hand remember that our view is bullish for market so positive trend of market will help FB for the short term. Our longer-term view of FB is very bearish.
FED announce rate cut, we didn’t expect this time cut, we expected cut in the next meeting. Before the last meeting we expected two cut which now happened so don’t expect any more cut.
Don’t short USA market, I still believe and advice you give 100% important to our theory from 5 November. This is unique period for our theory.
This is what we stated Monday: Still we are recommending buying positions in the US market, S&P around 3000 with a target of 3089 which could be achieved within ten days. Don’t short any market and don’t believe people or experts who are recommending shorting the market because S&P still has the power to test 3200.
SOXL can easily test $200. Regional banks and financial ETFs like DPST, FINU, and FAS will perform very well, also INDL and YINN looks great.
Thanks & God Bless