Notations on the chart tells the story.
If price action doesn't turn around here .. SP is going much higher... if so - should be on it's way!
Good luck to the BTFD-crowd...I see SP turning down when the is over
Time will show... as always!
Safe trading ladies and gents!
Music at work:
We will not see markets goes strait down in a couple of days but buy the fucking dip like for the last 5 years....is in my opinion ..gone and a dead strategy that should not be followed or conducted..... at least as long FED is not issuing a new buy program or stop tapering.
Sure there will be counter-rallies lasting for a day up to a week, but we have a new situation in the markets ... to cope with the challenges it brings is essential.
Nothing is for sure yet. We could see a major wave 4 being formed over the summer and then a test of the double top...sure, but until there is solid ground under that possibility
I will be nimble on buying longs in the market.... Let the market prof it selves. BM