MOMO BUYING ON POTENTIAL DOUBLE BOTTOM IN THE STOCK MARKET
By Nigam Arora & Dr. Natasha Arora
To gain an edge, this is what you need to know today.
Double Bottom?
Please click here for a chart of S&P 500 ETF (SPY) which represents the benchmark stock market index S&P 500 (SPX).
Note the following:
- Investors have found several reasons coming together today to buy stocks. These include a potential double bottom, RSI, yields pulling back, no new large currency moves, and a statement by Chicago Fed Charles Evans.
- The chart shows a potential double bottom is forming. A double bottom is often a buy signal. Please note the “?” next to the double bottom on the chart.
September 27, 2022