This is about as tough of market as I can remember, which is one reason I sit in cash. The other reason is the $IWM, or the Russell 2k. The index is still struggling with not only the 50 day moving average, but the 200 MA as well.
This R2K needs to bounce right here, right now, or things can get ugly with the quickness.
If a gun were to your head, gut decision, are you a buyer of the market here, or a seller? Click here to vote in this week’s poll.
7 Responses to Time For A Poll
Ragin … Mr. Ichimoku says we are likely to find a bit of SUPPORT in here !
That is to say … we (in all likelihood) BOUNCE !!!
Prolly … short-lived though !!! imo
… uhhh … did “Mr. Ichimoku” NAIL THAT BOUNCE … or, what ???
IN THE LAND OF THE BLIND … PERHAPS “MR. ICHIMOKU” … IS KING !!!
It WOULD be funny … ‘cept it AIN’T !!!
Full Disclosure :
SHORTER THAN VERNE TROYER !!!
I think we see 1380 before 1330.
After that who knows ~ more see/saw?
>This is about as tough of market as I can remember,
We said that last july too
Was gonna say the same thing. Chop fest.
Didn’t get a chance to vote but would have as seller. In fact, I have already taken my short $RUT / long vol position. $RUT in confirmed downtrend from 3/26 closing high;
3/26 close @ 846.13,
4/10 close @ 784.15 (lower low than 3/06 close @ 787.09),
4/27 close @ 825.47 (lower high than 3/26 close),
6/04 close @ 737.24 (lower low than 4/10),
7/03 close @ 818.48 (lower high than 4/27 close)