I hope we can climb out. I see MACD and Slow Sto still in sync, which is good, but it looks like it could top out quick as slow stochastic is close to 80.
I guess all in all I am just not comfortable with this market.
Also, I saw some charts that JPCavin posted links for. Kinda like market sector charts that show the long term secular bull market but with a breakout on some of the sectors that foretell business cycle and bear markets. I saw too much similarity with 2001 and 2008. Not saying we drop like a rock this month, but chart 101 is very interesting (at that link). Over several months just before the major drop there were very volatile swings up and down and so I am looking at that more closely. In any case, an indicator at that chart (bottom portion = ROC, which I have not studied before), caught my attention. At this time, that indicator looks very similar to what was seen in 2001 and 2008. Interesting thing is that this indicator was only present in that manner, at those levels, and during the timeframe just before the major drops. So while I am not taking this as gospel (and no one should), I am also not going to ignore it. Just considering it and taking it all in.
I am exiting today regardless of what is happening in market. I liked the upswing last week---even if I lose some today, I am out so I can pocket whatever goodies I got. I did say I just wanted a little bite.
Also, I probably will not go into F fund either. So I will have one more IFT to buy back in later this month for a very quick few days (in and out)!
Best Wishes to You and Everyone!!!!!!!!! :smile:
P.S. Hope I do not regret the exit, but Mr. Market has been pretty brutal this year and I expect that to continue. My only doubt for the exit is that the MACD and SS are in sync but again, looks like SS is getting ready to hit the top before it moves down. Also the Bollinger Bands are starting to contract, moving sideways, so there will be some choppiness. I will wait for the bands to contract completely and then show direction before entry... and hopefully we recover our footing. 50MA still below 100MA and 200 MA so its a downtrend and dangerous territory.
Oil dragging things down again, can we climb out again like yesterday?