stelakis
Long

a 5% correction?

SP:SPX   S&P 500 Index
As of this writing we are hanging at 2781. If we get a 5% correction we are going to see 2729. So by now we are already at 3.2% correction. If we get to the 5%, we dont have much more down to go. My gut feeling is that we are going to move sideways for a few days, regroup, retest and after the Bollinger Bands close enough ( volatility squeeze) we will be ready for the next move. My thesis is we go higher until late April..I am in the market, I have not sold, and I have a stop to buy on the previous day's high. The market needed a breather, this is it on a cheap excuse ...rising rates.. really? who did not know about that...; bond issues? really? economy booming, taxes benefit all, I see no problems - I see a chance to get in the game at a great entry point
Spot on
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