***The Market Is About To Turn. What Position Should You Take or Maintain To Maximize Your Gains While Minimizing Risk? Please Click Here To Find Out.
An interesting day with the Dow Jones up +64 points (0.40%) and the Nasdaq up +39 points (0.94%).
The day started with about a 100 point gap down due to bad retail data. The market rallied right away to close the gap and push further to the tune of +60 points. Turning today’s seemingly regular day into a 150 point rally for the Dow.
As of right now, both the short-term and the long-term chart look exceedingly bullish. Even though we are properly positioned, extreme caution here is a must.
It seems like the scenario discussed in yesterdays update is in play. While the Dow pushed higher it was unable to break above 16,050 for the time being. Indicating that the highest range of this bounce leg has been reached and that the market rally is likely near exhaustion. Whether or not we will see follow through tomorrow, is for the most part irrelevant. Remember, time is the most important element.
This works well with our February XXXX day provided in yesterday’s forecast. Making our next update incredibly important. Based on the market actions tomorrow I should have both price and time targets for the top on February XXXX.
Again, February XXXX should prove to be a turning point of this ………(Would you like to see the exact points of force in both price and time? Plus, what you should do. Please Click Here to +Subscribe to our premium service above. It’s FREE).
CONCLUSION & POSITIONING:
While the scenario above is highly probable, we must implement proper trading positioning, in case it is not. Positioning below is as per DOW Jones (not to be applied to individual stocks).
If No Position: XXXX
If Long: XXXX
If Short: XXXX
Please Note: XXXX is available to our premium subscribers in our + Subscriber Section. It’s FREE to start.
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