This will be a interesting week...
I am curious to where we end this week... laying off of trades this week, not closing a damn thing.. just using some caution. I think we for sure head down next week and I think by the end of April things have dropped nicely. I don't doubt that for one second. I am curious to where we end up this week though. Remember, sometimes throttling back position sizes. trades is ok until you see a clear path show up. Don't let the scum take your money or put fear into you... but do me smart. Sometimes is a time to go in hard, other times.. hang back a bit. Is the bottom in on the market? Oh no... not even remotely. And no 390s/ 400 is not the bottom to the market. The question is when do we get to the bottom? 2 months, 3 months? the fall? I couldn't answer that. I just know where the market will end up, when it does end up bottoming.
That zig zag line does not mean we get to the 456s... it just means if we do.. we are still in a down trend, technically.
That zig zag line does not mean we get to the 456s... it just means if we do.. we are still in a down trend, technically.
As many have pointed out.. 2008 took a while to fall. We have become accustomed to the 2016, 2018, 2020 drops happening quick. I guess it would be to much chaos to tank the market in that quick of a time frame with how far down this needs to go. While I was hopeful and still would love to see them do it and we bottom in the next 2 months.. maybe its not till late this year or early 2023 when the bottom is in? I can't tell you the time frame.. I just know where my eyes are on the chart and till that is in.. whenever that might be, 2 months or 10 months, it makes no sense to invest at these prices. Trades only.