No one market phase is better than another. What’s important is shifting with the sands and behaving in a manner that will most benefit you given external conditions. This week has been a shift away from overall market volatility.
It can be seen as overlapping ranges on a daily NASDAQ chart. When’s the last time I was able to draw a micro-composite? I can’t remember—it has been at least 5 dog years.
This action right now will forever hold a special place inside me. ATR is still elevated which means I can scalp a nice chunk out of the NASDAQARI without wasting much time. Meanwhile, it’s very methodical and has all the makings of a market controlled by the short and intermediate term participants—fellow citizens operating on my time frame.
And now momentum stocks are working. It may be time to switch gears and start building some longer swings.
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