Are you on the sidelines as most are at this time? I wouldn’t blame you as I’ve done very little trading in the past 2 weeks, but there are some reasons to be bullish. I believe that today’s sell off was more of a fake out, and that thesis should be confirmed if the markets find their footing tomorrow and Friday.
Basically we’re in a range in the Dow right now and we could even move a little more lower to shake out more weak hands. Watch these levels closely.
TBT looks set to retest the lows, which further adds to my belief that the general markets could be getting for another move up as these markets have moved inverse each other. If TBT does in fact move out of this range then I may have to readjust my views.
We are on the verge of a major buy signal and if you want to be notified via email when that happens be sure to sign up for my free newsletter as I always send out those notices as quickly as possible so you can act on them that day.