Yes l just use logical thinking.
What's that?
Market wave up and SPX and Nasdaq was at upper trendline of the channel.
It can only go down or wavedown, since it did not break the trendline.
We are still in a bull market, so long term still bullish.
Wave down is normal for profit taking or further accumulation.
There are some catalysts of uncertainty like govt shutdown and court ruling of Trump tariffs. These are excuses to bring market down. Not real stuff that would affect the market.
Govt shutdown will eventually stop. Thanksgiving coming. It's impt. Surely or high probability it will end before that.
We have hit bottom of trendline in the channel and 50ma of SPX and Nasdaq.
Therefore, good opportunity to buy your stocks and good chance of a bounce back. I
E. Wave up.
If trading and scared, reduced leverage in case market sleeps going down for a larger pullback. If long term investing, nothing to be worried about.
That's the thought process.
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- cheezzy·11-09Your analysis is spot onLikeReport
- Mokho·11-11Thanks!LikeReport