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September 2021 Stock Market Analysis - SPX

The market looks like it is very bullish and will continue to move higher. The reason why I also ask you to be bullish is because when the trend is up, one should always be bullish till the trend changes. Many have thought they knew better, trying to catch the top and hoping to short the market. Making money when the market crashes is indeed a confidence booster but eventually it has always cost people a lot of money to short the US market in the long term.

September 27 2021

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3rd Week

1st & 2nd Week

The chart above shows the S&P 500 futures. Using a simple trend following strategy, which is the 20 day moving average, the 50 day moving average and the 200 day moving average, we can see that the US stock market is indeed in a very very bullish outlook.

Whether it is the 20 MA, the 50 MA and the 200 MA, all three moving averages are rising and the SPX is above them all three. If the SPX is above the rising 50 day moving average, I would advice you to be bullish in the medium term. If the SPX is above the rising 200 day moving average, I would advise you to be bullish on the US stock market for the long term.

Taking a look at Bitcoin, we can see that Bitcoin has already recovered quite a lot since the sell off. The weekly Bottoming tail at the bottom right at support hinted of the lows of the sell off and after that Bitcoin continues to rise to meet the resistance area.

I think there is a lot of resistance overhead but the fact that Bitcoin forms bottoming tails in the weekly chart shows that it wants to fight the resistance and move higher. Watch the first of the Bottoming tail made earlier. If BTC manages to stay above the lows of this bottoming tail, then I think it will overcome the resistance and move higher.

The above shows the daily chart of Bitcoin. As you can see it has indeed started a new uptrend. Making higher highs and higher lows. It is also now above all three moving averages.

I suggest that you watch support 1 and support 2. This is where if the support holds then I think Bitcoin is likely to move higher from there.

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