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Strategies & Market Trends : Point and Figure Charting -- Ignore unavailable to you. Want to Upgrade?

To: Underexposed who wrote (32769)	1/31/2020 9:48:15 PM
From: AdvocatusDiaboli	Read Replies (2) \| Respond to of 34818

Anyone thinking that the $SPX is heading for a return to a bull run soon is dreaming in technicolor. .... I believe we are NOW on the edge of a significant correction.... I suppose a lot depends on the progress of this coronavirus. There is no cure riding to our rescue and like SARS this disease will have to run its course and that will take time. My advice would be to review your holdings and take appropriate precautions for the future. Thanks UE. Good analysis as usual. I effectively went flat this market with contra short positions on 7 January 2020 at that much spoken number 3240. I believe the market will likely correct as previously stated by around 7% from the ATH. The market has got ahead of itself and needed to take a breather. It was looking for an excuse to correct not a reason. Coronavirus is just that excuse. Otherwise the market's vital signs are good and it is an election year so a resumption of the bull run is highly probable after a short much needed correction. I am happy resting on the bench at the moment but expect to get back into the game in the not too distant future. I do not believe we have seen the end of this historic bull market just yet.