So, the market reversed yesterday to the upside, after opening lower. Was that the turn I was looking for? The short answer is… No.
I really needed at least 1, and probably 2%, further to the downside to put all that I was looking at into place, before I would have expected that actual market turn. But, you know, it’s a funny thing, but the market just won’t do what I want it to do, no matter how hard I wish!
Look at this morning’s pre-openers! As I type, they’re up overseas by .65 to .80% as of 6:34 a.m. EST, which is a pretty heady amount. It could result in quite the opening pop.
So, we watch and we wait. It only means that whatever I was looking for will likely be deferred for a while longer. The best case scenario that I would want would be a very muddled market right to the end of the year, with the indicators lining up, so as to give hope for a really good start to the new year, 2016. It would be a picture that would pretty much mirror what we saw in the 2011/2012 time frame.
Here’s to your successful investing!
Harold F Crowell