US Market Outlook Week 4 October
Last Friday, the US market surged right after I said that should be the start of the profit taking phase I have talked about for the past 2 weeks.
Was I wrong?
Well, not yet. :)
Why is that so? That's because what the S&P500 did last Friday was exactly the same kind of exhaustion peak that typically starts a profit taking phase... a strong single day rally opening with a gap, closing strong with a surge volume. This was the exact pattern that started the S&P500's slide back on 19 June of this year. As such, I would be very careful with trying to get in new longs at this level.
How the S&P500 do today would be critical. If it follows up with another positive day, that will completely reverse the profit taking pattern and signal a continuation pattern especially in this strong intermediate and primary bull trend.
Even under such uncertain conditions, my Ride the Flow system continues to produce its average monthly profit, adding a nice 4.5% to our portfolio this month! :) In fact, one of my students who traded the Ride the Flow system since January of this year is sitting on almost 40% gain on his overall portfolio right now! Here is his voice recorded testimony:
Check out my Ride the Flow system and find out how you can make 5 to 8% every month on your portfolio easily under every market condition now!
For now, the market remains in short term neutral trend within an intermediate and primary bull trend.
Was I wrong?
Well, not yet. :)
Why is that so? That's because what the S&P500 did last Friday was exactly the same kind of exhaustion peak that typically starts a profit taking phase... a strong single day rally opening with a gap, closing strong with a surge volume. This was the exact pattern that started the S&P500's slide back on 19 June of this year. As such, I would be very careful with trying to get in new longs at this level.
How the S&P500 do today would be critical. If it follows up with another positive day, that will completely reverse the profit taking pattern and signal a continuation pattern especially in this strong intermediate and primary bull trend.
Even under such uncertain conditions, my Ride the Flow system continues to produce its average monthly profit, adding a nice 4.5% to our portfolio this month! :) In fact, one of my students who traded the Ride the Flow system since January of this year is sitting on almost 40% gain on his overall portfolio right now! Here is his voice recorded testimony:
Check out my Ride the Flow system and find out how you can make 5 to 8% every month on your portfolio easily under every market condition now!
For now, the market remains in short term neutral trend within an intermediate and primary bull trend.
posted by Jason Ng at 3:05 AM
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