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US Markets - Closing Short Term buy on S&P 500 Emini
Cerundolo Investment Research
US Markets Update
Volume 2, Issue 29
November 30, 2018
Items of Interest:
Following up on our note of November 21, we would be closing the short-term buy on the S&P Emini right here.
We were on alert for an upside target off that low, and we believe this is a good spot to close the long as the Emini hit the “Ellipse” turning point indicator as indicated on the chart below. This is also close to the 200-day average and not far from the 50-day average as well. Given the G-20 summit that is getting under, volatility is very likely in the coming hours/days, so we would rather take profits here and go flat over the weekend.
For our long-only clients, we will be sending out our strongest ranked global Heath Care stocks today. This is the strongest ranked sector in our work and the one we most wrote about this year.
