Well now...things got a little bit more interesting around this latest tide turn date. Volatility appears to be returning to the market, of course you have to keep a fridays action in perspective because they can be wild and crazy trading days. It will be interesting to see if this volatility marks a top in the markets (sell in May, go away) or whether they are just shaking the trees trying to get more investors out of the markets before a spring and summer run up. I guess I'd have to vote for the latter. As always, time will tell.
6 comments:
I think Carl Futia was expecting a low around 1185 before an advance to 1270 area begins. We do seem to be putting in a base in this 1,200 area.
Ouch, this tidal trade is not going well so far. It reminds me of January when we had a few very painful trades then too. So far it's not as bad, but who knows when the correction will end? - Hopefully very soon. At least we got a nice big fat gap above the market screaming for a closure.
Joe
Ouch is right...I tried a couple times yesterday to get on the long side but was stopped out each time. I believe Terry Laundry has today as a "cash buildup" low before the advance can begin. We'll see. I might try it again mid morning.
It's probably wiser to work with stop losses. I'll have to suffer through this one. And yes, I'm following Terry Laundry's work as well. It looks like in my IRA I will take money off the table around May 20 when the current T expires. From my current EW count I expect one more token high around then followed by a more serious correction. This is the last upturn when the general public moves more into the market.
Joe
Still midterm and longterm we're in a solid bull market. - I almost forgot.
Joe
Ouch, this is one costly tidal trade here. This one will make the worst of the year so far for sure! Overall, I'm still in the green though.
Joe
Post a Comment