The 1 week old correction in equities is likely coming to an end. Monday's sharp fall and the fall from Thursday night into today's NFP number were great, and made very profitable trades. The overlapping, horrible rally, while forseen and forecasted proved to be very difficult and resulted in a fairly unpleasant drawdown.
This correction might even be over WITHOUT taking out the Monday lows. Then again, it might. Either way, time to rest and look for entry points into longs - the coming rally will be quite long and powerful, and could take the market higher 20-25% in about 1.5 weeks.
No comments:
Post a Comment