Stock Market Analysis

Thursday, May 24, 2018

DANGER AHEAD!

I received an email today telling me how he was "in complete awe" over my market analysis yesterday. This was what I said yesterday:

"All in all, even if the market opens negative today, I am more inclined to think that today is going to be a low open high close day"

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Being able to be as accurate as to correctly call a day a negative open and positive close day when the media yesterday was rattling away at how badly Trump supposedly screwed up. Of course, to be able to make such a call I give thanks to God who has guided me along this path for so long and given me tools and the right eye to tell what is going on and ultimately bring it to fruition. Apart from that, it has been my decade long practise not to be distracted by the news and stick only to my own research and experience and it has since paid off.

Even though I would normally say that this is when the market completes a turn around pattern and challenge new highs, I am more hesitant today. Why? Because yesterday's positive day was actually a bearish positive day with professionals rushing out of the market rather than in to it. Something about the 2750 level seems to be scaring people away and I won't be surprised to see yet another failure around this area to go back and retest the 200MA.

As such, the next two days is going to be very dangerous.

The next two days is going to determine if the market is ready to break this intermediate neutral framework for real or retreat and continue to bounce along within it. At this time, from how investors are reacting, I would say its a 50/50 chance and therefore a great time to take some short term bullish profit off the table if you have any.

For now, the market remains in short term and intermediate neutral trend within the framework of a primary bull trend.

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