Watch the close, but the Bounce Commences!

Watch the close, but the Bounce Commences!
December 26 18:23 2018

I have recently written that I believe that the steep panic that we saw on Christmas Eve was likely the setup for a “turnaround Tuesday” which happens very often (market was closed on Tuesday so this pushed it to today). You can see in the chart above that the market is trading green on the day and on increased volume. Is this the long term low? No. But do we get a start of a bounce here? I think we do.

I will be allocating back into equities IF we close strong and on the highs today. This is important seeing as it has not done this in multiple down days. I want to see buyers. Check out below where we stopped…within 1 point of the 200 weekly moving average. It’s just numbers and patterns folks.

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heyimsnuffles
heyimsnuffles

Just Climbing the Wall of Worry and Picking the Right Time to Get out of the Way. I am a Nuclear Engineer who quit and has studied global and crypto markets for almost a decade.

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