20 Sep 2021, 09:23
This week’s assessment is pretty much the same as last week’s update. The S&P 500 was stuttering in a tight range last week. It continues to hug the black support line in the picture. It briefly tried to move upwards during the week but the bears brought it back right down to the support again. Next week is one critical week we need to watch out for. There is still a chance for the index to break below this support and sink into a deeper downtrend. Or it could remain in the channel and continue the bull run.
In the worst-case scenario, whereby the index breaks down, we still do not think that this would be a large-scaled market crash. We should await for opportunities to buy stocks when they are cheaper.
The key is to be very patient now and wait till prices become more attractive before we make any bold buying decisions.
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