You read it here in last night's S&P 500 OUTLOOK FOR TOMORROW, WED 05/23 - published before 5pm yesterday - which said: "As published last night, the index is likely heading to consolidate into the 2715-2705 band, before any further directional bias could develop.".
S&P 500 Index futures already hit 2704.50 (0.50 points more than predicted) in the overnight session - within less than 12 hours after that forecast! Yes, regular readers can figure that this is more than a few times that our forecast levels are coming true. No, it still does NOT make our (or, anyone's) models and algos any crystal ball that can guarantee you trading riches! But, the interesting and relevant question you should ponder is: what do you think YOU (or, your friend or co-worker who seems so much into the markets and trading - do them a favor by sharing this post/blog) could do if you had such a market crystal-ball which gives you the forecasts that keep coming true day after day? Human psychology and behavioral finance research say, "not much, really!". Because, your trading results are determined mainly by your trading psychology and discipline than by some magical predictive tool in your hands. Use these forecasts and predictions just as a tool to train and guide your discipline and trading psychology, and then it could do wonders to your investment/trading results! Happy market-day ahead!
#SP500 #SPX #SPY #ES #Bulls #Bears #Stocks #Bonds #Invest #Trade
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