Breakout for stocks or Fake Out?

Once Again actions flirted with THE all time tops For THE S&P 500 (TO SPY). This has arrived 2 times recent both leading has failure And This 3rd time doesn't seem has be THE charm either. What East holding actions back Since manufacturing new tops? And What should A investor TO DO has find better performance? 43 year investment veteran Steve Reitmeister actions her see including A Preview of her 11 favorite action choice NOW. Read on below For THE answers.

In My recent comments I to have speculated that We were due For A trade range has digest a few of THE crawling earnings has THE END of 2023. However, SO far he has has been more of A consolidation below THE all time tops has 4,796 For THE S&P 500 (SPY).

Consolidations are simply a lot tighter trade ranges. That investors refuse has to have A serious sell disabled while Also not be ready has climb upper. Kind of feels as cars relive up has THE departure double of A race...a lot of noise, but going nowhere.

We will discuss more of THE the reasons behind This consolidation And When actions should be ready has race in front.

Walk Comment

Actions to have try twice on has TO DO new all time tops above 4,800 For THE S&P 500. And twice thwarted has that level follow up by share withdrawals.

Yes he looks as Thursday action signals A 3rd such attempt. Again that was A very hollow rally with THE usual suspects In THE S&P 500 TO DO GOOD with little caps And other riskier actions late. That East not THE sign of A in good health bull. And give very weak odds of breakup has new summits.

A few are pointing has economic data be Also weak as THE issue. Such as THE horrible -43 showing For THE Empire State Manufacturing Hint on Tuesday.

While others are pointing has economic data be Also strong as Retail Sales be above expectations on THURSDAY. This had ten Year Treasury rates breakup further above 4% And Also lowered THE odds of THE First of all rate cut future has THE March fed meeting.

Sorry friends... you can't to have he both manners. And maybe THE answer East that Neither of these theses are that's correct.

Meaning I don't do it believe that investors are Really worried about A imminent recession. Neither are they fearful of rates doping Again as they did In THE Autumn of 2023.

Simply, THE walk has come A long path Since bear walk down In October 2022. A total earn of 37% Since that valley has NOW East A plot of profit In A short time When THE long term average annual earn For THE S&P 500 East only 8%.

SO NOW East A in good health time For A extended break. THE even path You would be take A long to break After running A marathon.

Rest East What East necessary. And SO earn THE strength For THE following run higher.

In THE action walk world that typically come hand In hand with A withdrawal In price leading has A trade range. Along with that You will see these investment terms to show up more often:

Profit socket Sector rotation Change of direction Buy THE Soak THE Break that Updates And SO on...

Again RIGHT NOW THE most apt term East consolidation. As sharing up high, that East simply A very tight trade range RIGHT below A indicate of resistance. Currently that resistance corresponds with THE all time closing tops has 4,796...but For simplicity Easier has think of he as 4,800.

THE indicate East has This scene he East in good health And normal For actions has relax After such A long run upper. Don't do it be surprised if THE consolidation do turn In A wider trade range with A subsequent test of THE 50 day moving average has 4,628 be A likely inconvenience target.

Moving Averages: 50 Day (YELLOW), 100 Day (orange), 200 Day (red)

A to break below 4,600 East unlikely without a few bigger fundamental concerns occurring. But let's go TO DO appreciate THE 2 following levels of price support rest has 4,488 For 100 day moving average And about 4,400 For THE 200 day moving average.

Your trade plan should be has stay bullish. To use any of them subsequent withdrawal as A buy THE soak opportunity. NOT For THE actions that directed THE charge In 2023. That game plan East plays outside.

Instead assessment And quality will be detained In upper regard This year as THE generally PE of THE walk East not cheap. GAARP East GOOD (Growth HAS A Reasonable Price)...but not growth has ANY OF THEM price as last year.

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