I never know what's going to happen but I'm wary when things get too far out of kilter. This market has been been out of kilter for a while and it finally got it's bell rang. The SPX ended up below the 20day MA and that's not particular good for the upside thoughts near term. Same is true of the NASDAQ.
The NDX, which I'm most interested in looks destined to play with the 200 day MA again and the Russell has been begging for a beating and took one today.
Now all is not lost if you are a bull as a healthy dose of skepticism could actually help things here if your time frame is longer than a day or two. In the meantime, if you didn't lighten up you likely gave up some ground today as the beating was fast and furious and once we rolled over it just kept on going.
Personally, I just held my own today and I guess that's not too bad. As always, the market is always ripe with opportunity; you just have to put down your prejudices and consider what is really in front of you. Good night.
The NDX, which I'm most interested in looks destined to play with the 200 day MA again and the Russell has been begging for a beating and took one today.
Now all is not lost if you are a bull as a healthy dose of skepticism could actually help things here if your time frame is longer than a day or two. In the meantime, if you didn't lighten up you likely gave up some ground today as the beating was fast and furious and once we rolled over it just kept on going.
Personally, I just held my own today and I guess that's not too bad. As always, the market is always ripe with opportunity; you just have to put down your prejudices and consider what is really in front of you. Good night.
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