I am not going to step in front of the market, just yet. I have a few toes in the water on the long side, but am still exercising patience into next week. Turning prior resistance into support is crucial for the bull case on the indices, as is the continued accumulation of market leaders by institutions. Though we are in the summer doldrums, I am open to the idea of the market improving here. However, charts do need reset and firm up a bit before I find the type of quality entry points that fits my style and discipline. Sticking with that highly selective aggressive style has served me well this year, and I am not going to change until the market show more character and heart.
Have a great weekend. I will be back with more analysis later.
2 Responses to Stepping Back to Let the Market Do its Magic
Well said dude.
I think you have far more patience than most But that’s good! I am learning…