I have covered this morning and going to look at this market with a clearer head hopefully. I've looked at all the bearish angles and it's not as bearish a picture as I first thought. When a market refuses to go down, you have to listen. I am still bearish and there is no way I am going long here. But I will be a bit more careful shorting this market. The price action speaks to underlying strength and I'd like to get short later when I see a bit more volatility in the price movement, up or down.
I got a haircut too yesterday, but I went to the mijangwon.
ReplyDeleteI think that was it. 1151 was the top. I hope we go down to at least 1125 from here. We would be at least slightly negative to slightly positive if the mkt was going to go higher.
ReplyDeleteI think people are anticipating that the FED will raise rates by early fall perhaps.
From the price action of FXI (China) & INP (India), if US closes negative, this downleg is the real thing.
ReplyDeleteI shouldn't have gotten that haircut this weekend!
ReplyDeleteWas it a good haircut though? I used to get a cut and blow from a two pole barbershop.
ReplyDeleteJust a regular haircut. Anyway, I will get another opportunity to short I think tomorrow or Wednesday. I'm not worried.
ReplyDeleteLooks like you'll get a good opportunity to get short today
ReplyDeleteI don't know... this is highly disappointing. they did it again.
Maybe the Fed starts hinting of rate rise sooner than later.