Re: Whipsaw's Account Talk
The SPX had been in an ascending triangle this week Airlift (which is bullish). EW says we are in a corrective wave that should take us to between 1960-2000. However their are several lines of resistance starting at the 1956 pivot which can change rapidly based on news. IMO, the indicators appear to say Monday is positive (strong dollar, weak yean-oil prices good, gold holding, RSI neutral, etc) but we are in a BEAR Market and it is a volatile environment (any major news issue - possible N. Korea missle launch, oil prices fall, etc) . There is a gap at SPX 1868 that need to be filled on the downside and that should give bulls some pause about getting in if you are not in. I plan to be in the F Fund for Feb starting next week when the rally ends. I wouldn't be surprised to see more choppy action. The dollar got a huge boost today but I see that starting to retrace on Monday...Just a few of my thoughts.
FS
FogSailing
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