ES Journal - 2023/2024

(Reuters) - Deutsche Bank has raised its year-end target for the benchmark S&P 500 index to 5,750 points from 5,500, citing rising stock buybacks, strong corporate earnings and robust inflows, boosted by strong risk appetite.

"We see S&P 500 earnings growth continuing to run robustly in the low double digits, in line with typical growth rates outside of recessions," Deutsche Bank strategists said in a note on Sept. 12.

The new target represents a 2.75% upside to S&P's close of 5,595.76 on Thursday.

BUY THE DIP.....
 
christhesquid said:
Fundamentally and seasonally, I see no reason to be long.
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While September typically is a weak month - it's possible it already delivered on its promise with that initial plunge last week taking out half of August already. Long term there's still around 45 % green Septembers.

Being an election year it does not seem like a too wild take that this market will continue moving higher from here. At least into the FOMC meeting next week.

However, if anything can be learned from the most recent past it's that this market can quickly turn in either direction. :)
 
theapprentice said:
Tried Long at around teh close.
See if I wake up too a win or a loss.
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covering that here for +20

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Also bought ym this morning for a nice scalp

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got back yesterdays losses with a fair bit of interest so far. First day this week i've been able to trade the morning
 
Bias is bullish but we’re getting closer to ATH and the reward to risk is shrinking unless we break to the upside which might not happen without some back and forth.

+ We had 4 bullish closes in a row on the SPY.

There’s 60pts left to the upside towards 670.
After that we might see some reactions.

I wouldn’t long inside 670-720
 
As long as Wall Street, e.g. Goldman Sachs, et al believe that Harris will win they're going to keep buying.

Goldman Economists Assess Impact of Presidential Election Outcome on GDP - Bloomberg

“We estimate that if Trump wins in a sweep or with divided government, the hit to growth from tariffs and tighter immigration policy would outweigh the positive fiscal impulse” from maintaining most tax cuts, Goldman economists including Alec Phillips wrote in a note Tuesday.

The best historical predictor of the winner of the White House has been the stock market. If the market continues to rise and is sitting at or even just near all time highs on election day, the US will probably vote for Kamala.

If instead the market is in the dumpster, get ready for the second coming of the Trumpster.
 
Does anyone have a good AI generator at hand for cartoon pictures?

My vision for today is the bulls dealing the ultimate death stab straight through the heart for any remaining bears.

A more friendly picture with the same effect would be a bull poking at a sad bear or something to that effect. :)
 
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