Welcome to my blog – General Market Direction
November 9, 2014 MarcoTrade
Here is my first Blog post. The first of many. Today is Sunday November 9th and we are about to enter the 4th week of a new uptrend that started on 10/15 with a Bullish reversal off the 1820.66 low on the S&P. Just 3 weeks later the S&P sits now at 2031.92, pretty much at an all time high.
This new uptrend has been very strong, in fact we have witnessed a V shaped recovery from the lows. Many leading stocks have broke out and many more are about to. The uptrend is still intact with very little (if any at all) institutional selling happening. Of course in trading we do not make predictions as they are often wrong and nobody really knows what the future will look like. We know however that this is a great buying environment for stocks, probably as good as it gets and we are not late for the party. In the coming days we are going to look at price and volume patterns of leading stocks, trying to find the next breakout and trying to make a little bit of money.
Categories: Market Direction
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