We are getting close to October of this year. 12 weeks from tomorrow puts us at Monday, 9 Oct, and we all know what happened 4 years ago on that date!:)
I just finished reading the investment house report you posted(thank you for that), and the author believes the most likely market action in the near future is a rise in the market over the short term and then a dip into late summer, early fall. That would be right on schedule for an October bottom.
<<In sum we anticipate a rebound attempt this week; the one we expected last week got started just to get bumped in favor of a new war. Things are bad enough to actually make this last test, the third leg lower in the selling, the bottom of this downside move. Deep down we don’t think that will be the case, instead taking another dip in late summer, early fall. The rebound from here, however, could be quite sharp and indeed tradable. With the damage to many stocks this past week there will need to be time to set back up. A rebound from here is likely to be an oversold short covering bounce and then that next pullback to set up the bottom. That lets stocks rally back, test, and thus ready to make a more sustained move higher from bases as opposed to rebounding from downtrends. We are looking to play that upside move, taking what the market gives.>>
RtS, let's hope it plays out as the author thinks it will.
Don |
