Chart Patterns and TA

[gfp927z]

The RIBT and BABYF charts are now looking pretty similar, and not the type of chart that gives a reliable signal either way. Both very ambiguous at the moment.

With the broader market, I figure it will likely be weak in the the lead up to the next Fed meeting (July 26, 27), and come down to test the June lows (3637 on the S+P 500). Could break below that to test 3600 or even lower, but then a relief rally after the Fed meeting. Under 3600 there is a support level from the 50% Fibonacci area (~ 3562), and then 3500.


https://investorshub.advfn.com/Market-Timing-41300


Fwiw, I've been buying 1 share of SPY or VOO every trading day for a week or so, with plans to continue at 1 share/day through the rest of the year. So that's the current 're-entry' strategy. If things really tank then will probably increase the amount/day, but will try to keep it disciplined, with the purchases spread out over time.



---