Howdy. Not a bad week over all. However that last day was a bit of a bummer. When I have a tad more time I will try and do a mid week analysis. Let's get this part started!
Naz 100
Mid Month Look
The markets are faring well this month. The only exception is the Russell. Oil has done the best while the US Dollar is having a bad month. The precious metals are lagging and perhaps are entering into a consolidation phase. We'll look more into that next week unless I have some time during the week.
Conclusion:
So far this month is looking decent for the bulls. Even if we pull back a tad more it will still be an up month. In and out of small trades is best.
We are most definitely positioning ourselves for a huge rally. This rally will come when most will not expect it. Most will not want to jump in and be too afraid. HOWEVER, I still feel we have a tad more downside. There is not enough fear out there and complacency has sunk in. Don't think so? Look at this!
Look at the volatility of the Nasdaq 100 and the S+P and notice that it is not as high as previous, when we had big down days and weeks, and we are lower then previous times!!! Oh the complacency = trouble!!!
Enjoy your trading!!!
No comments:
Post a Comment