I am saying this again: “All the stress, worries and concerns about trade disputes, geopolitics and a slowing and overly indebted global economy, Y 2019 may be the best year investors have ever had, the numbers are staggering.”
And just because sentiment is so very positive does not mean a correction is will happen anytime soon. As the leaders are holding setting up, moving up and holding the moves, so long as this pattern continues, the moves will continue up.
Technically I see a familiar course in here, the major US indices either tested or tested near the 50-day MA in early December and are now at new highs and running up the 10-Day EMA).
There have been 3 bounces so far, and it looks like th the 4 is starting, and then a 5th, as 4-5 is what we typically get off the 50-Day MA. With the indices putting some distance on the 200-Day MAs, this is something to watch for as the move to a 5th bounce continues. Then may be the time for a pullback on that 10% correction that pundits have been calling for a looong time now.
That means letting the positions work, always taking what the market gives.
Have a terrific New Year Holiday Week
Latest posts by Paul Ebeling (see all)
- ‘The Marksman’ Toped Weekend Box Office with Only $2-M - January 25, 2021
- Lucara (TSX:LUC) Begins the New Year with a 341-carat Gem Quality White Diamond - January 24, 2021
- China’s Stock Market Gained Over 18-M New Investors in 2020 - January 24, 2021