In today’s briefing:
- SPX Bounce to Short
- PayPal Holdings Inc (PYPL US): TSS Target Achieved in 12 Days (+12.5%)
SPX Bounce to Short
- SPX bounce call from 3,800 to 3,950 is unfolding with risk of an early failure. Flat pattern wants to press lower post bounce.
- Sell points noted at 3,950 with scope to 3,980. We are using NDX and RTY as our short vehicles.
- DXY still needs some time to base at 103/102 but a low would fit with a risk top here.
PayPal Holdings Inc (PYPL US): TSS Target Achieved in 12 Days (+12.5%)
- On 16 December we determined that the new interim downtrend low at 69.77 would likely fail and produce an 8% to 13% correction to 75.00/78.50 in 1-2 weeks.
- PYPL US subsequently bottomed at 66.39, before reversing to 78.48 (+12.5% from 69.77), 12 days after our recommendation.
- Please refer to our publication on 19 October 2022 … “Introducing Our Tactical Trend Reversal Methodology: TSS (Trend Sustainability Score)” for a description of our proprietary TSS methodology.
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