Trading Ideas

S&P500 – let’s see if it breaks

$SPX – let’s see if it breaks by SchalkLouw on

Strong Momentum coming from the S&P500 since beginning of 2019. We’ve however now reached a top, where we could not see a break in Oct18, Nov18 and again on 25Feb19. Should the trend remain positive and we break and close above the 2815 level, we can very much go and test the highs (2940) again of last year Sep/Oct. The 50-day moving average is making a lovely little smile , telling us that the trend is nice and healthy.

Should we see another pullback, my first support will be the 200-day moving average at 2750. This will also be my stop loss, with a break most probably looking to test the 50-day moving average another 100 points or so, lower.

Schalk Louw
As Portfolio Manager at PSG Wealth Old Oak and with over 20 years’ experience in the investment industry, Schalk has consistently delivered solid returns to his clients and has certainly become one of South Africa’s most well-known strategists. He started his career in 1994 at the stockbroking company, Huysamer Stals (later ABN Amro). He joined SMK Securities in 1997, (later became BoE Personal Stockbrokers) and was later appointed as director and branch manager. In 2001 he co-founded Contego Asset Management and managed the company as CEO up to March 2014, after which he joined PSG Wealth Old Oak. Schalk has also become a regular household name with investors, with his reports being published in many of the national press. He completed his MBA in 2008.

Leave a Reply