indexit: I wouldn't pay too much attention to the news, but would read the tape for slightly longer timeframes than we had looked at before. We are probably in an intermediate term uptrend, which kicked off last Friday and was confirmed by this past Monday's action.
This was a TA setup from my structured TA approach, so I do not get too excited or discouraged by day to day fluctuations (when this signal is given). I don't pay much attention to the news, economic, or downgrades or upgrades, except with a skeptical and cynical eye, as a bit of a contrarian.
We are not yet in a roaring bull market as evidenced by a lack of the 4 strong rally days in a row, which typically kicks that off, so we are going to have a choppy rally. Not much chance of a bearish reversal, unless we have some calamity. I think most here have already gotten partially long either Friday or Monday or on pullbacks after Monday, and have traded part of their positions and held the majority, part swing and part position trading.
Just my humble opinion, but from my TA and experience. I could be wrong and this is not a recommendation to buy or sell stocks, to any readers here. |
