Ascending Triangle Runs Out of Room Soon for SPY SPX
It's just a chart with some fibonacci levels and an ascending triangle with no where to go but down in my opinion. Looks like 2777-2775 is the first Fib level to revisit after topping out around 3,025-3045. Negative divergences also signaling running out of steam IMO. Don't hold anything for long, regardless of how strong it appears to be. Anything could change in one swift key-stroke of trumps fat fingers...Only thing that sends this higher in my opinion is a resolution of trade with China, and even then - Trump may start another trade war in it's place soon there-after IF we ever resolve China first...
SPY
SPX
I'm personally bullish on old school value plays that have been forgotten about that now have good dividends while you wait out the storm such as $CVS which has a .50 cent quarterly dividend, yielding 3.45% better than it's industry leaders like your UNH and ANTM which only yield 1.65% and 1.05%. Another one I'm long is $KHC Kraft Heinz which yields 5.22%, and last one that I'm watching is $GT goodyear tires, yielding 4.38%
All these growth stocks with sky-high valuations are going to begin to crumble at some point and I don't want to be holding long for that.
Good Luck!
SPY
SPX
I'm personally bullish on old school value plays that have been forgotten about that now have good dividends while you wait out the storm such as $CVS which has a .50 cent quarterly dividend, yielding 3.45% better than it's industry leaders like your UNH and ANTM which only yield 1.65% and 1.05%. Another one I'm long is $KHC Kraft Heinz which yields 5.22%, and last one that I'm watching is $GT goodyear tires, yielding 4.38%
All these growth stocks with sky-high valuations are going to begin to crumble at some point and I don't want to be holding long for that.
Good Luck!
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