Comparing the S&P 500 today to the October bottom
The latest signals of each model are as follows:
- Ultimate market timing model: Buy equities (Last changed from “sell” on 28-Jul-2023)*
- Trend Model signal: Bullish (Last changed from “neutral” on 28-Jul-2023)*
- Trading model: Bullish (Last changed from “neutral” on 22-Sep-2023)*
* The performance chart and model readings have been delayed by a week out of respect to our paying subscribers.
Update schedule: I generally update model readings on my site on weekends. I am also on X/Twitter at @humblestudent. Subscribers receive real-time alerts of trading model changes, and a hypothetical trading record of those email alerts is shown here.
Subscribers can access the latest signal in real time here.
How much downside risk from here?
The recent downdraft in stock prices left many indicators in severely oversold territory. But how oversold, as oversold markets have been known to fall further. I compare the current technical conditions to the market bottom of October 2022.
If we were to define the October low readings as the floor, does that mean the market has more downside potential?
The full post can be found here.
Source: http://humblestudentofthemarkets.blogspot.com/2023/10/comparing-s-500-today-to-october-bottom.html
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