Sorry i coudn't update my blog since April 23, since i had some personal preoccupations.
My April 23 forecast for a drop to 1452 was invalidated by the market action. I was wrong !. Every day the market throws new information. Only a stubborn ego-maniac analyst can afford to ignore such information. Right now the market says that we have not seen any top of importance. So as a trend trader, the next area of importance seems to SPX 1493, which should be the area where a hourly swing/trend trader need to focus on going long. For VST traders, today has a downward bias for a drop into SPX 1493.
Subscribe to:
Post Comments (Atom)
1 comment:
Wow. I couldn't agree more. While I am not exclusively a trend trader but I concur that the only sensible strategy now is to buy this rally, and I don't mind buying on strength either. There will be time to hedge and time to go counter-trend and now just isn't so, imo.
dTB
Post a Comment