“Those who have knowledge don’t predict. Those who predict don’t have knowledge.” Lao Tzu, Chinese philosopher, 6th century BC

PAYPAL

Friday 7 August 2015

7 Aug 2015 - 200 Bounce

Who would have guessed that we would have a bounce here in the late afternoon.  This is getting hairy, and too close for comfort for the bulls who still insist that this is a bull market.  For now though as it stands from Jun 9th, we have been in a bear market.

I was listening to an INTERVIEW last night and I thought you should take a LISTEN if you don't already know.  A very good gauge on whether to be bullish or bearish that makes sense.  I believe we are here, and even though the indexes are fighting and staying near their highs, the stocks however have already been dropping like flies.

With OS conditions, the risk for more downside is high.  At this point nothing is holding price up other than the 200 day.

MT: DOWN
ST: DOWN
PA: DOWN

The indicators above are all in SYNC which makes for low risk trades.


NOTE: While listening to the linked interview, I also went and checked the percentage of stocks above their respective MA.  Most if not all are bearish...  So if you think you know better then kudos to you.  If you are like me and the many who don't, then follow the indicators as they move, chances are you will be right more than you will be wrong with this technique.


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