SPX: -4% Dip and Bounce. Is the Pullback Over?

SmartReversals
06-13 08:50

Last week’s Setups Blueprint delivered exceptional results, it presented seven setups with the highest probability of success:

  • $Apple(AAPL)$ : My blueprint anticipated a decline to an extended target of 297 (-3.1%). It extended further, hitting its 3rd support at 290 for a weekly move of -5.3% 🎯.

  • $S&P 500(.SPX)$ : Targeted a -1.2% decline to 7,294. This acted as the support zone where the price bounced on both Wednesday and Thursday 🎯.

  • $Microsoft(MSFT)$ : I expected a decline to 398.6 (-4.3%). The actual move went deeper to -6.3%, exceeding our bearish expectations 🎯.

  • $SPDR Gold ETF(GLD)$ : Targeted an extended bearish level of 383.7 (-3.2%). It bottomed below at 371 (-6.2%), hitting a weekly level we modeled and posted a week ago 🎯.

  • $iPath Series B S&P 500 VIX Short-Term Futures ETN(VXX)$ : My technical set anticipated a bounce to 26.1, with an extended target of 27. The exact top of the week was 27 (+7.2%) 🎯, marking another great hit.

  • $Broadcom(AVGO)$ : Targeted 349. The weekly low was 370 (-4.1%). Profitable ✅, and directionally correct.

  • $Berkshire Hathaway(BRK.B)$ : Expected a move to 496.8 (+1.8%). Price action remained constructive above the central weekly level 👍.

All seven setups were directionally correct, with five hitting their exact targets, one still very profitable, and one still in progress. 6 out of 7 correct for a 85% success rate with a 5% average gain.

The Setups Blueprint includes targets and invalidation levels for all the securities in our watchlist. While I handpick the ones with the best technical conditions to reach their targets, paid subscribers who want to follow specific securities like $Invesco QQQ(QQQ)$ $iShares Russell 2000 ETF(IWM)$ $Amazon.com(AMZN)$ $Tesla Motors(TSLA)$ $NVIDIA(NVDA)$ or others, they will always find them analyzed with precise price targets and clear bullish or bearish conditions.

For example, these setups were also included in the Setups Blueprint from last weekend:

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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