Did we just top?
Clearly that's the question everyone on Wall Street is asking. Last weeks market action definitely looks similar to prior short to intermediate term tops. So when will we know if there's a top? After it's a top, of course! This means, it's a top when there's a confirmed (technically speaking) breakdown under support. With so many opinions about the market's direction and whether a top is at hand, it can lead to confusion. As self-directed traders and/or investors, we must have an objective method of analysis based on price patterns and historical measurements of breadth and sentiment to guide us. My objective method is the system I follow, and right now it tells me I want to be out of the market or short the market. I hope all of you have objective to use when making your decisions as well.
The system remains in sell mode.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment