The timing band for the pending trading cycle low runs between September 12th and September 30th. Any advance should prove to be a failure and that lower prices should follow.
Monday’s advance obviously failed on Tuesday and further weakness into the trading cycle low is still expected and any advance out of the pending trading cycle low is also expected to be a counter-trend advance that is followed by further weakness.
Bottom line, any advance should prove to be a counter-trend bounce that is followed by lower prices. More on this as it develops.
Everything is relative to your viewpoint:
Which Time Frame is the Right one To Use?
The answer is simpler than you might think, according to 98% of research papers completed by Nobel Laureates and University's, active trading is a losers game. You must invest for the long term with buy and hold . . . but avoid massive market crashes as occurred between 200 - 2002 and in 2008. This is precisely what we do for our members.
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Livio S. Nespoli has been a broker, registered investment advisor, and financial publisher since 1985.