RE: Disappointing drop!28 Oct 2020 21:00
Good Evening Saurus,
Thanks for the link. Although the piece focuses more on the US Markets, the subject matter is worth a read as the Author makes some very interesting points.
A couple of key paragraphs for me were:
“Well, the market is now providing us a set-up for another decline. While the set-up is not suggestive of the same decline potential which I was expecting back in February and March of this year, there is strong potential for a 10-15% pullback.
While I will let all of you argue regarding what you believe the “reason” for this potential decline may be, I personally do not care. But, I am quite certain that you, the news media, and all the pundits will find the reason for a decline – after the fact.”
Has the market not dropped 10-15% in the last 3 days alone?
“ Lastly, I am viewing the next bout of market weakness as a buying opportunity. The market weakness I expect as we head into November will likely set us up for the next rally I expect to the 4000-4250SPX region into the middle of 2021. And, yes, this applies no matter who wins the election – assuming the market holds our outlined major support during the next decline. This will be the final test for the market for the next 2-3 years, as we move towards my very long-term target of the 5000-6000 region to complete the bull market off the 2009 lows. Assuming support holds in the next bout of market weakness, I will continue to maintain my outlined long-term bullish expectations.”
If you find any more worthwhile links, then please post them for benefit of all.
Good Luck my Friend.
Sign In
Follow the stocks
