We heard the first boom.
Intra-day, SPX went below 1500 but closed above at the end.
While we saw a breach in the up-trend it will be wrong to say that the bull is dead. Wounded yes, dead? No.
Those who are thinking of shorting the market now, should do well to keep the fate of this guy in mind.
This was the 1st meaningful pull-back in many moons and at this point of time, is just a healthy correction.I think we will see a bounce very soon, may be as soon as tomorrow. Only when it makes lower high, we can think of an intermediate term top. Just like last time.
When the indices made few lower highs and there were reversals of reversals of reversals, we did see meaning-full correction. It will follow similar path this time around and prudent traders / investors should wait for price confirmation.
Subscribers know the level to watch for and when the sell signal will be triggered. They also get mid-week and end of the week update, which help us to remain on the right side of the market without front running.
Other risk assets are getting slaughtered as well. Oil had a flash crash yesterday but for now I think it has found a bottom. But there is no such respite for precious metals. We have been out of it for a while and waiting in the sideline for the right time to get long. But we may have to wait for a while till everyone gives up on gold and all gold bugs fly away.
Some other interesting trades are developing in the soft commodities/ grains / Nat.Gas and we will have some action there soon.
All in all, end of Feb./ early March promises to be interesting in contrast to the last 3 weeks which has been a boring kind of market.
Hope you all are doing great and wish you all best of luck trading.
Intra-day, SPX went below 1500 but closed above at the end.
While we saw a breach in the up-trend it will be wrong to say that the bull is dead. Wounded yes, dead? No.
Those who are thinking of shorting the market now, should do well to keep the fate of this guy in mind.
This was the 1st meaningful pull-back in many moons and at this point of time, is just a healthy correction.I think we will see a bounce very soon, may be as soon as tomorrow. Only when it makes lower high, we can think of an intermediate term top. Just like last time.
When the indices made few lower highs and there were reversals of reversals of reversals, we did see meaning-full correction. It will follow similar path this time around and prudent traders / investors should wait for price confirmation.
Subscribers know the level to watch for and when the sell signal will be triggered. They also get mid-week and end of the week update, which help us to remain on the right side of the market without front running.
Other risk assets are getting slaughtered as well. Oil had a flash crash yesterday but for now I think it has found a bottom. But there is no such respite for precious metals. We have been out of it for a while and waiting in the sideline for the right time to get long. But we may have to wait for a while till everyone gives up on gold and all gold bugs fly away.
Some other interesting trades are developing in the soft commodities/ grains / Nat.Gas and we will have some action there soon.
All in all, end of Feb./ early March promises to be interesting in contrast to the last 3 weeks which has been a boring kind of market.
Hope you all are doing great and wish you all best of luck trading.
Where do you find these pictures?
ReplyDeleteMaybe in a week or two, you can find a bear finishing the job with this person that used to be a guy.
Hearing from you after a long time. Hope you have been doing great.
DeleteYes some more time is needed but these days folks get impatient even with one week.
Hahaha... I'd say that picture represents considerably more than just a "warning shot". But thanks for the reminder. You're quite right that bears still have to be very careful here.
ReplyDelete