S&P 500 Analysis
Pros listed in green.
Cons in red.
From a technical standpoint the S&P 500 looks to be heading south, don't jump into a short position just yet though as price is currently entering into an important level of support.
Wait and see how it plays out.
From some simple fundamental analysis using my 2 favourite leading US economic indicators we can see that;
ISM PMI
The ISM PMI is currently below 50 which would give us a short bias, however, we can see that the index is heading back towards the 50 level. This means that the index is below 50 and growing, which gives us a weak short bias. In this instance we would want to be neutral and take no position at all, or take a very small position.
UMCSI
The next indicator is the University of Michigan Consumer Sentiment Index (UMCSI).
This is a survey of consumers conducted by the University of Michigan on a monthly basis.
At the moment we are seeing the indicator currently sitting at 69 and approaching the 70-80 range at a healthy pace. This would also back up the possibility of us being market neutral for the time being, or taking a small position.
I would post snapshots of these charts but TradingView wont let me.
Cons in red.
From a technical standpoint the S&P 500 looks to be heading south, don't jump into a short position just yet though as price is currently entering into an important level of support.
Wait and see how it plays out.
From some simple fundamental analysis using my 2 favourite leading US economic indicators we can see that;
ISM PMI
The ISM PMI is currently below 50 which would give us a short bias, however, we can see that the index is heading back towards the 50 level. This means that the index is below 50 and growing, which gives us a weak short bias. In this instance we would want to be neutral and take no position at all, or take a very small position.
UMCSI
The next indicator is the University of Michigan Consumer Sentiment Index (UMCSI).
This is a survey of consumers conducted by the University of Michigan on a monthly basis.
At the moment we are seeing the indicator currently sitting at 69 and approaching the 70-80 range at a healthy pace. This would also back up the possibility of us being market neutral for the time being, or taking a small position.
I would post snapshots of these charts but TradingView wont let me.
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