..that doesn’t appear to be happening anytime soon. When I was young my dad used to have this saying that is very relevant to all those who hope for a pullback to get involved with this rally. He used to say to
“wish in one hand and (bleep) in the other, and see which one gets filled up first”.
I had a thought today regarding overbought markets, pullbacks, and feeling left out of a rally. If you ever find yourself saying
“this market looks great and I want to buy this stock or that one…but I want to wait for a pullback to get a better price”
Just go ahead and dip your toes in the market so you at least participate a little in the joyous bullish festivities. Because there is nothing more frustrating than being on the sidelines when the market goes up every day. Now I’m not really that frustrated because I’ve been nailing these market turns (including this one) and who knows, the next turn could be right around the corner, but I have to admit that I’m starting to think this rally could have some serious legs, with what my indicators are telling me. Here are just a few charts that stood out to me tonight.
Not even in the overbought area.
I wanted to give you one actionable trade suggestion that I’ll be watching.
