Intermediate Correction Next Week?
Could next week be the start of a significant intermediate correction in the US market?
As I have mentioned at the start of the week, this is going to be one dangerous week with next week almost certainly a significant bearish one.
So far, the market made its biggest single negative day of 2018 two days ago but recovered all lost grounds yesterday. That set up a great exit point for our profitable call options positions in PTEN and HBI as we took a combined 72.4% profit on both positions. (Join me for just $1 if you missed profiting from this rally so far! Click on http://mastersoequity.com now!)
However, looking closely, even though the market still look very bullish today, the VIX is actually secretly edging upwards, foretelling imminent short term volatility, agreeing with my outlook of an almost certain significant negative week next week. In fact, next week could be the start of the kind of healthy intermediate correction that the market badly needed in order to wear off some of its current short term overbought condition in order to set up for better entry points and therefore more new highs.
Yes, more new highs.
I mentioned in yesterday's report for paid subscribers that the signal for an imminent market crash has appeared and it seems like this could be the final bull leg, just like back in 2007, before the bears take over fully.
(to receive that report, please subscribe for just $25 a month by clicking on the yellow button on the right, below my profile photo)
As such, I won't be surprised to see the rest of the year rallying powerfully before things get VERY dangerous towards the end of the year.
For now, the market remains in all out bull trend.
As I have mentioned at the start of the week, this is going to be one dangerous week with next week almost certainly a significant bearish one.
So far, the market made its biggest single negative day of 2018 two days ago but recovered all lost grounds yesterday. That set up a great exit point for our profitable call options positions in PTEN and HBI as we took a combined 72.4% profit on both positions. (Join me for just $1 if you missed profiting from this rally so far! Click on http://mastersoequity.com now!)
However, looking closely, even though the market still look very bullish today, the VIX is actually secretly edging upwards, foretelling imminent short term volatility, agreeing with my outlook of an almost certain significant negative week next week. In fact, next week could be the start of the kind of healthy intermediate correction that the market badly needed in order to wear off some of its current short term overbought condition in order to set up for better entry points and therefore more new highs.
Yes, more new highs.
I mentioned in yesterday's report for paid subscribers that the signal for an imminent market crash has appeared and it seems like this could be the final bull leg, just like back in 2007, before the bears take over fully.
(to receive that report, please subscribe for just $25 a month by clicking on the yellow button on the right, below my profile photo)
As such, I won't be surprised to see the rest of the year rallying powerfully before things get VERY dangerous towards the end of the year.
For now, the market remains in all out bull trend.
posted by Jason Ng at 4:44 AM
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