BROAD STOCK MARKET TRADE ALERT (11:30 AM)
It looks like it's time to cover (unload) our short position in the broad stock market. Markets seem to be shrugging off the coronavirus scare with strong rallying this morning and also shrugging off yesterday's tumble (following the disappointing rhetoric from Fed Chairman Jerome Powell that dashed investor's hopes of an interest rate cut this year). With our bearish divergence signal from Monday now gone, it's probably best we step aside now and wait to see if the broad stock market is still completing an older medium-term cycle (bearish) of if it has just started a new one (bullish). Covering (unloading) my short position in the broad stock market today with a small loss.
It looks like it's time to cover (unload) our short position in the broad stock market. Markets seem to be shrugging off the coronavirus scare with strong rallying this morning and also shrugging off yesterday's tumble (following the disappointing rhetoric from Fed Chairman Jerome Powell that dashed investor's hopes of an interest rate cut this year). With our bearish divergence signal from Monday now gone, it's probably best we step aside now and wait to see if the broad stock market is still completing an older medium-term cycle (bearish) of if it has just started a new one (bullish). Covering (unloading) my short position in the broad stock market today with a small loss.
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