Andrew Thrasher | Source | Portfolio Manager at Financial Enhancement Group
Andrew Thrasher
Portfolio Manager at Financial Enhancement Group
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Financial Enhancement Group (https://www.yourlifeafterwork.com/)
Portfolio Manager
started Oct 2011
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There's more pain to come for stocks, according to analysts watching the charts
With the U.S. stock market in the midst of an October sell-off, some of Wall Street's top chart watchers are worried the situation could get worse.
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The advantage of trading like stocks allows the investor to be more in control of their entries and exits versus being reliant on end-of-day values.
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To get back to being bullish in broad U.S. equities I want to see SPX recover that January high. If we see stocks continue to slide I’ll be looking for the next level of support at 2,790 which is the pivot point resistance in March and June before the breakout higher in July.
