Somewhat of an uneventful day on Wall St with volume almost nonexistent. I kept waiting for the markets to bounce with my market timing system flashing an initial buy signal on Friday, but as I mention in the video that did not happen. I like to have a confirmation move to avoid jumping into a number of positions only to be whipsawed out of them. This can have a devastating effect on you mentally and it’s important to avoid costly mistakes that take you out of the game.
To reiterate, my timing system remains bearish, albeit cautious, as we are at an important juncture that probably won’t be resolved until next week.
I also want to remind anybody who is on the fence about the Stockcharts offer as it expires at the end of the month (which is tomorrow). This is the best deal they have ever offered and if you want to be a serious trader, this is one tool (the only tool I pay for) you need to have to do your nightly research. You can’t go wrong for about $35/month.
