Futures indicate a lower open on Monday for the SPX. It’s been tough for large-caps lately given the loud shouts of ‘Trade Wars’ from media outlets. It’s still quite unknown as to what may really happen there. Some winners and losers will definitely get tossed around, but will the overall markets be harmed? It’s too early to tell.
While pull-backs are not fun, this thing has played it by the numbers. If the futures are any indication, the SPX will declined back to the mid-point of it’s 1-month (or so) trading range. Once there, we’ll see if things stabilize and begin climbing higher. The underlying fundamental story supports further upside from here.
For the week, look for 2740 as a key support/pivot point. If the SPX holds up here, a reversal move back toward the 2800 level is likely. If support fails, look for 2718/2700.
IMPORTANT DISCLOSURE INFORMATION
Please remember that past performance may not be indicative of future results. Different
types of investments involve varying degrees of risk, and there can be no assurance
that the future performance of any specific investment, investment strategy, or product
(including the investments and/or investment strategies recommended or undertaken by
BigFoot), or any non-investment related content, made reference to directly or indirectly
in this blog will be profitable, equal any corresponding indicated historical performance
level(s), be suitable for your portfolio or individual situation, or prove successful. Due
to various factors, including changing market conditions and/or applicable laws, the
content may no longer be reflective of current opinions or positions. Moreover, you
should not assume that any discussion or information contained in this blog serves as the
receipt of, or as a substitute for, personalized investment advice from BigFoot. To the
extent that a reader has any questions regarding the applicability of any specific issue
discussed above to his/her individual situation, he/she is encouraged to consult with the
professional advisor of his/her choosing. BigFoot is neither a law firm nor a certified
public accounting firm and no portion of the blog content should be construed as legal
or accounting advice. A copy of the BigFoot’s current written disclosure statement
discussing our advisory services and fees is available for review upon request.