Market Positive As Predicted...
The US market closed positive yesterday EXACTLY how I said it would in my report to paid subscribers yesterday. Here was what I said:
"All in all, yes, you know that's coming don't you, I think its overdone. There's no real reason for such a huge sell off on such enthusiasm and whenever there is such an overdone situation, it usually means the opposite."
(I only publicly post my reports here every other day. Do you Wish To Be on the Paid Subscriber email list? Subscribe by hitting the yellow button on the right below my profile photo)
In fact, my Master's Stock Options Picks Subscribers and I took the opportunity to take a nice 4% profit day trading on SPY call options yesterday, which is many times more than the usual 1% day trading target. (didn't make any money yesterday? join me for just $1 now!)
However, yesterday's positive close was really nothing more than just a glorified sideways day as it did not quite manage to turn sentiments positive. Both bond yields and total equities put call ratio continued to behave in a way as to reflect uncertainty rather than in support of a certain direction.
However, with the Dow still making a series of rising bottoms and the fact that yesterday was indeed a positive day, continues to put the market inclination to upside rather than downside. In fact, pre-market futures are also pointing positive right now even though the direction of the market futures rarely tell how it would close for the day, its still something which gives us a little bit more information on how the sentiments are in the market.
For now, the market remains in short term bull trend within an intermediate neutral trend and primary bull trend.
"All in all, yes, you know that's coming don't you, I think its overdone. There's no real reason for such a huge sell off on such enthusiasm and whenever there is such an overdone situation, it usually means the opposite."
(I only publicly post my reports here every other day. Do you Wish To Be on the Paid Subscriber email list? Subscribe by hitting the yellow button on the right below my profile photo)
In fact, my Master's Stock Options Picks Subscribers and I took the opportunity to take a nice 4% profit day trading on SPY call options yesterday, which is many times more than the usual 1% day trading target. (didn't make any money yesterday? join me for just $1 now!)
However, yesterday's positive close was really nothing more than just a glorified sideways day as it did not quite manage to turn sentiments positive. Both bond yields and total equities put call ratio continued to behave in a way as to reflect uncertainty rather than in support of a certain direction.
However, with the Dow still making a series of rising bottoms and the fact that yesterday was indeed a positive day, continues to put the market inclination to upside rather than downside. In fact, pre-market futures are also pointing positive right now even though the direction of the market futures rarely tell how it would close for the day, its still something which gives us a little bit more information on how the sentiments are in the market.
For now, the market remains in short term bull trend within an intermediate neutral trend and primary bull trend.
posted by Jason Ng at 4:05 AM
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