Thursday, January 19, 2012

Market Update

The market looks like it completed the V of W3 so again, just waiting for a minor correction and then one last rally to 1330's. The market is starting to get overbought but it is still not safe to short, so the plan is the same. Short at 40 points above the TA or stay in cash. All the recent good news will all of a sudden fade at some point and give the market a much needed correction. To prove my point, take a look at the screen cap of the news I took from the day the low was put in and prior to my November 22nd post predicting a rally. Technically speaking, almost every single issue on the news page is still present and it can be used at any moment for a sell off/correction.

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