Free Webinar
We will be having a free webinar tomorrow at 5:00 PM ET (New York Time). We will look at recent markets and discuss bar-by-bar chart reading, comparative strength and weakness in related markets to identify market turns, prime locations for trade entries, the 3-10 oscillator, market structure and the Weis Wave. There is a lot packed into this 45 minute event. Be sure to register so you don’t miss it. Click the link below:
Free Webinar Wednesday, January 7 at 5:00 PM ET
More Downside for US Markets
I see more downside for the US Markets. The market (S&Ps) has had quite a slide during the last five days–all of which were down. We’ve lost over 100 points in the futures since the high put in on the day after Christmas. The Nazdaq (NQ) has retraced all of it’s rally since the mid-December low.
We might see an attempt to rally tomorrow, but I’ll be looking for a short opportunity on any weakness around or just above the 2010 level.
With supply evident on this push down, the mid-December low (1961.50) is likely to be reached. In fact, I will be surprised if that level holds. I think we have more downside to go.
See you at tomorrow’s webinar!
You mentioned that S&P 500 you see more downside , possible 1961.50. You are more keen to sell at rally around 2010. May I asked now S&P 500 is around 2035. I am just curious , will you consider trade idea has to be re accessed?
Kate –
That’s a very good question. I’ll address it in a separate blog post with a chart, so you can be clear on the answer.
Gary