RE:RE:RE:Market Stall - Lets Face it - Not Going Higher with BAD GDP
That is a loaded question especially with leveraged etfs. For estimates I use S&P levels as well as time and try to narrow it down from there. So my expectation or target will probably differ from everyone else because nobody sees things the same. As for the Fed or Fomc I now just ignore most of that because it is just a smokescreen to distract from the real picture.
Currently I see the S&P to complete a top later this week or early next week. May should see a decline of the S&P to around 1980-2000. That is a key pivot point. I don't believe we will get past that yet, but will re-evaluate it then. I am going to take one step at a time, but we need to top first. So from the top(or HVU bottom) I am expecting $10+. So if the bottom of HVU is $14 in the next week, I am estimating a level of $24 for HVU. It has been slightly overshooting recent targets....up and down. Shlinker, you mentioned that you want to break even. You bought HVU but what was your exit plan? This is one thing that most traders don't think about objectively. For swing trades you always have time to devise an exit plan for stops/profits. It's different when I day trade, but then I let the charts tell me and I am out at the end of the day.