Are you going tp post your Gartley pattern or are you following in the footstepds of a poster called Saltdome who posted on his TA but in reality just posied tosh because he never knew anything about TA.
Never a good idea... Fundamentals and purchase price are key if you're a long term value investor & trends/price action for the short term investor. Major news has the ability to move markets one way or the other like war, significant monetary & fiscal policy changes but views and opinions do little to move markets. Follow trends not peoples views. Scare tactics, doom & gloom views & opinions and also overly optimistic baseless bullish views are common place in the media and appears in forums such as these. Cripling cake & spilt milk (apologies, oil) are classic examples.
Stocks Bear Market Rally End It’s Close… very close The biggest rallies occur in bear markets and equities have had an impressive run after leaving behind a double-bottom in January and February - but the “end is near”. In election years, March is a seasonally strong month for equities but this year, the March rally got started early in the first half of February. Several signs point to a top either last Friday or sometime this week.
What To Expect From This Bear Market Rally... Stocks rallied for the third straight week in what appears to be a classic bear market rally. Investors should count their good luck and use higher prices as an opportunity to reduce equity exposure or hedge stocks they don't want to sell.
The Dow Jones Industrial Average jumped by 367 points or 2.2% to 17,006.77 while the S&P 500 rose by 52 points or 2.7% to 1999.99. The Nasdaq Composite Index rose 2.8% to 4717.02. The major averages have gained about 10% since their February lows, giving investors hope that the worst is over.
Look for above 6250 on the FTSE 100 for a continued bullish trend or below 6050 for a pull back in stocks. FTSE 100 currently trading around 6150. Suggest holding on to positions until we break either way. My view is that we will break to the upside this week assuming Draghi does not disappoint markets on QE.
Datafeed and UK data supplied by NBTrader and Digital Look.
While London South East do their best to maintain the high quality of the information displayed on this site,
we cannot be held responsible for any loss due to incorrect information found here. All information is provided free of charge, 'as-is', and you use it at your own risk.
The contents of all 'Chat' messages should not be construed as advice and represent the opinions of the authors, not those of London South East Limited, or its affiliates.
London South East does not authorise or approve this content, and reserves the right to remove items at its discretion.