Im sure most of you have noticed and have been anticipating that we hit an intermediate top (I am surprised it took this long). This is healthy for the market. I sold out of most of my positions yesterday.
If you want to try and buy the bottom of this pullback then watch the individual sectors. One or two sectors will lead the rebound just as one or two has led this pullback. This is good practice for making market calls. Remember 80% of the stocks follow the market.
Later I'll try and do an analysis on the message board.
any thoughts? -Greg
Posted by Art on :
Santa Claus rally is over, but market looks good until April, then watch out.
So much depends on events - war on terror, oil, etc.
Posted by grjohnso on :
I think we are ready for our next leg up in this bull phase. Here are some charts:
The nasdaq: Currently bouncing off uptrend line.
The dow: Currently bouncing off 60 day sma
The S&P500: Currently bouncing off 60 day sma
This may not be a bad time to look for some stock bouncing off their moving averges, their trendlines, or support levels. I am currently moving from cash and increasing my exposure to the markets.
