I was right about the direction - SP500 to hit ~1200 followed by a pullback and wrong about the way it will play out. It is more than a pullback.
I was right about the retest of the lows and wrong because i was expecting to retrace time moving up/sideways for one or two weeks.
Hey nobody knows the future, important is to be on the right side of the trade:) and I was.
Know what?? For the short term I have no idea. We will see on Monday - gap down and reverse? continue moving down?
What I know is th indexes are working on a bottom. That is what my indicators and market breadth indicators are telling me.
By the previous low the futures hit ~10450(DJ) and ~1080(SP500) and I expect that the cash indexes will visit this lows. Then strong rebound, deep retracement and another rally.
More bullish alternate scenario - the trend line is broken and the indexes are testing it now working on double bottom.
The lower low will be a buying opportunity
No comments:
Post a Comment