Given the stellar move in the S&P 500 and other broad markets Wednesday after the Federal Open Market Committee rate announcement, is it time to step aside?
Absolutely not!
As I told forecast subscribers at the beginning of December…
Opportunities will skyrocket after the announcement!
The first step to trading yesterday’s confirming move is to observe the afternoon price action in various sectors and indices for strength or weakness.
Some solid winners from my perspective include ETFs in Utilities (XLU), bonds (TLT), gold (GLD) and the Russell 2000 (IWM).
For perspective, here are daily charts of XLU and IWM. Take your eye to my Hard Right Edge on the daily chart. Note the move to the Target.
I’ve written about strength building in XLU, TLT and IWM since November, and shared successful trade ideas to boot.
I’ve written about commodity super cycles since January of this year that include GLD.
As my December forecast plays into my hand, I have a plan… That plan continues to include tickers that make up XLU and IWM.
Here is a starting list of stocks in each:
I won’t trade these tickers blindly, and I recommend you apply your favorite indicators.
My continued enthusiasm or lack thereof regarding recent price action is sharply focused on Dec 22.
Subscribers of my Hard Right Edge forecast know exactly why. That focus paid me big time in 2023…
Stay tuned!
Think and win!
Celeste Lindman
Celeste Lindman Trading
If you haven’t already, join my Telegram channel here for frequent trading insights and market musings!
*This is for informational and educational purposes only. There is an inherent risk in trading, so trade at your own risk.
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