Trading Log:Could this be a short term top
I haven’t posted for sometime, cause i� have been busy with work and a side project.
Now that i am on a 3 day course, it gives me sometime to ponder about the market. We have quite a run up, but that doesn’t mean it couldn’t run up further. I still remember the 2003 bull where it just keeps going up and up taking every body off guard.
If this week turns out to be a down week, we might still be in a bullish scenario. first support for s&p 500 is around 790. bullish investors can look to add to this down trend. should the 700 level not hold, be prepared to take some loss of 10% and cut it.
My GLD trade sometime back didnt go according to plan. i exited witha 9% loss but it would have been worse if i didn’t. Sometimes cutting off weeds makes you grow better.
Related posts:
- Trading Log: $EEM short term overbought. $USO #Bradley Model
- Hussman:Short Term Overbought and Fundamentally fully valued
- Tim Wood: Not a bull market but short term /intermediate looks good
- Short Term Wedge Formation on S&P500
- S&P 500 : Short Term bottom?
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