Time to look for at least a rebound in US stock indices
Having been a bear for quite a while I now see value beginning to emerge in Us stocks despite all the negative virus headlines about to hit
Entering 50%-60% retracement zone of the 2009 bull market
Extreme readings on sentiment/RSI etc
Entering 50%-60% retracement zone of the 2009 bull market
Extreme readings on sentiment/RSI etc
Comment:
Stocks +25% since the original call
Comment:
I recommended BUYING the DOW futures in the overnight session of Sunday 22nd March at 18230 - pretty close to the lows for the sell off.
We have since moved up to 24630 prior FOMC annoucement today, a move of +35%.
It is now time to take profit on that long and look for at least a 10%-15% pullback if not more. Unsure if THE LOW is on but we have bounced a long way and so going to take a short here for a few weeks.
We have since moved up to 24630 prior FOMC annoucement today, a move of +35%.
It is now time to take profit on that long and look for at least a 10%-15% pullback if not more. Unsure if THE LOW is on but we have bounced a long way and so going to take a short here for a few weeks.
Comment:
Still short 24630 and watching and waiting bigger pullback to decide longer term structural positioning