The S&P 500 will bottom in 2020 at 2579-2645

[Clubber Lang]

I say we are close to a bottom on the S&P at 2589-2645


3000 is the first objective
With 3340 in play after that


Once again I am placing 1% deviation and will consider this call void if SPX closes below 2553

Didn’t you call like 57 “tops”?

 

[volente_00]

I'm all in long on SPX


DEMTDAYBOYZ smell green

 

[volente_00]

I like my odds when the masses are against me

Reminds me of the top

 

[RedDuke]

I'm all in long on SPX


DEMTDAYBOYZ smell green

not the worst trade. Good luck. Though yuor call was off 3 percent as market broke 2500

 

[volente_00]

SPX will touch 3330 in 2020

33% higher from here

 

[volente_00]

I have no idea where the bottom is. But a few thoughts.

Good:
1. Earnings will suck, but this is actually a positive. Corporations will write off all the crap that they had been wanting to do the prior years, but held back because they did not want to tarnish an earnings report. Guidance will be good. Assuming that the CV blows over, guidance will be good.
2. With interest rates going lower, many good companies with solid dividends should find support. Probably a good buying opportunity.

Bad:
1. No more buybacks. Gone. At least for a while. Buybacks provided major support for this market. Since 2010, more money has gone into buybacks than dividends.

I think we bottom when one of two events happen:

1. Number of infected cases drop / or stop increasing.
2. People realize that we're really just looking at a bad case of flu. This data indicates that it's neither highly contagious or deadly for people under 70:

https://informationisbeautiful.net/visualizations/covid-19-coronavirus-infographic-datapack/

I'm actually glad to hear that some celebrities got it. Why? Because I don't like them. Just kidding. I hope they recover and rather it's good because their progress will be followed and once they make a recovery without losing a limb, people will realize that it's not that bad.

China cases already dropping and it's the epicenter



As temps rise this is not going to get worse


Buy lows

Sell tops


Walk away at the top

 

[volente_00]

But if you are really bearish

Keep an eye on 2950-3000 when we move up


If we fail here then SPX will touch 1400-1500

I may switch back to short bias depending on what the variables are saying at 2950-3000

 

[RedDuke]

SPX will touch 3330 in 2020

33% higher from here

Why why make such call???? You know shit, and so do i.

 

[RedDuke]

And we are already 130 points below 2570. And this is after 500 +700 billions were injected. Once again a trader needs to acknowledge that he knows shit.

No need to go all in now, testing the water sure, but no way all in.

 

[Sekiyo]

Traders know shit but watch out for 2350 -> 2600