ChartAdvisor.comt: The bottom line is that the markets are still truly at a crossroads. There has been some very positive price action as many indexes have cleared some significant resistance levels and intraday price action this week was positive. Buyers have been stepping up and selling pressure has been fairly light on pullbacks. However, overall, the markets are overbought while still near critical areas of resistance. The pullbacks have been swift and severe over the past few months and it would not be shocking to see one in the coming weeks. That being said, overall the market’s price action has improved somewhat, and could be signaling a healthier intermediate trend.
Schaeffersresearh.com: bullish with a possible near term pullback
About admin
Richard Cheng, M.D., Ph.D., is an avid Wall Street investor with 20+ years of investing experience. He is specially adept at observing the world to find the patterns and then design strategies to win his battle. Most, if not all, happenings in the world, follow certain patterns. These patterns may be complex, multi-factorial, not so intuitive at the first glance, or even may appear chaotic. However, even chaos has its own patterns. If you pay attention and be patient, you'll find them and then you will gain an upper hand in your battle. Using this blog space, he documents his trades and his thoughts as they happen. He uses this blog as a a notebook to help him better refine his strategies. Hopefully this will help you as well. Good luck in your trading.
