From 2005 high of 1625 the NDX 50% FIB retrace is 1558.20 and if more is needed the 61.8 is 1576.49
These IMHO are logical areas to expect a halt to rally or something else might be afoot.
The market can stay illogical longer than you can stay solvent....especially if SHORT, and is GREAT reason not to be for avg trader.
Buying the dips or after substantial declines is like "shorting" the stock, you get it cheaper.
Market appears to be still on Q to head for top of trading range a breakout higher without Transports also doing so will be VERY suspect IMHO.
Retail sales looked weak with auto's in it, take them out it looks great.
And a bald man would have hair if it wasn't for the fact he has lost his hair.
Yes, damn I sound stubborn, but you don't MANUFACTURE and MANIPULATE your way to a sustainable economy. There is NO foundation under this market, the lemmings continue to flock to risk.
D
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