So, you technician guys I love so much... what do you see in the Tea Leaves?

[Visaria]

Probably go long tomorrow for upside on YM to 24400

 

[Handle123]

I've been thinking this corrective action has been a "Wave 4"... but which one? If correct, leaves room for some modest "rally back up", "Wave 5". Or possibly a much bigger move higher, possibly to Dow 50,000 in a couple of years. Too soon to tell which, if such is even the case.

Consider the corrective action might continue until April 10-15... when 1st Q earnings start getting reported.... and maybe rally starting then.

Could be too... that this is no where near correct.

Playing it by ear. K.I.S.S., as always.... with stops.

Lotsa luck to you and yours.

I thought it be left shoulder since corporate taxes hugely came down, but regardless stay with the system, stay short ES to hedge stocks/long term short indexes and long calls for maybe dead cat bounce or more.

 

[ballstaranonymous]

So SP500 might go either down or up?

Most certainly down sir........, eta an inside bar is a to be continued book.. Just something to ponder

 

[Palindrome]

Stocks below Feb 5th lows near term. Under that level you cover your shorts and get long again.

Need more of a shakeout to take money from the weak. That's the point of shakeouts, weather on the long side or short side.