BROAD STOCK MARKET TRADE ALERT (3:30 pm EDT)
Last Wednesday we unloaded our short positions in the broad stock market for a small profit as it appeared that all three major market indices (DOW, S&P 500 and NASDAQ) had made or were making their final medium-term cycle bottoms. This was happening in a major reversal zone for equity markets which we are moving out of today. Today's surge in the broad stock market is reinforcing this scenario. It looks like a good time to now go long in these markets. We can set a stop loss on both the DOW and S&P 500 breaking below their recent lows (20,379 in the DOW and 2,322 in the S&P 500). I will comment more on the broad stock market and the other markets later tonight or tomorrow. Going long in the broad stock market today.
Last Wednesday we unloaded our short positions in the broad stock market for a small profit as it appeared that all three major market indices (DOW, S&P 500 and NASDAQ) had made or were making their final medium-term cycle bottoms. This was happening in a major reversal zone for equity markets which we are moving out of today. Today's surge in the broad stock market is reinforcing this scenario. It looks like a good time to now go long in these markets. We can set a stop loss on both the DOW and S&P 500 breaking below their recent lows (20,379 in the DOW and 2,322 in the S&P 500). I will comment more on the broad stock market and the other markets later tonight or tomorrow. Going long in the broad stock market today.
RSS Feed