TESTING 1 2 3 TESTING 1 2 3
And that folks is the order of the day when you look at the S&P 500 today.
1040 going once, 1040 going twice, SOLD at 1040. The market has now defended the 1040 level twice and in both instances we’ve bounced off of it. If you were watching the indexes this morning at the 1040 level you’ll have seen before we pulled away from it to the upside, the leaders (AAPL, BIDU, NFLX) all took off before the index did. It showed you that the market always moves with the leaders first.
While the premarket didn’t look good, THAT my friends is what we want to touch upon for a moment. Just because you see premarket looks horrible DOES NOT mean that you should immediately jump to an emotional conclusion out of FEAR. More often than not the first half hour knee jerk open is always garbage anyway, recent case in point? INTC news from a few days ago the last time we tested 1040.
This is why we always say:
“Let Your Stocks Tell You What To Do By The Action They Exhibit”
In addition to that we constantly drill into your subconscious the famous phrase heard around our world here at All About Trends and that is:
“In The Face Of FEAR”
Believe it or not, this is the secret to successful investing — to keep your most important asset in the game, that being YOUR STATE OF MIND. We’ll continue to drill this in your head so that it becomes second nature to you. Consider yourself warned. The funny thing about all this is that none of it has to do with stocks or indexes or chart patterns, its that of managing your emotional state of being. They say YOUR perception creates your reality and to a big degree that is true. But Ahhh when looking at the market through the reality of what is vs. what we want to see? That is the secret — The standpoint of the un-opinionated observer. It’s a mindset you really want to cultivate. Try it, practice makes perfect.
Let’s take a look at the S&P 500 over the last few days.
While we are at it let’s look at the leaders charts over the same time frame and frequency.
As you can see, the market takes off, the leaders take off and sometimes it’s the other way around — that being it’s a market of stocks and not a stock market.
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