Sign In  |  Register  |  About Burlingame  |  Contact Us

Burlingame, CA
September 01, 2020 10:18am
7-Day Forecast | Traffic
  • Search Hotels in Burlingame

  • CHECK-IN:
  • CHECK-OUT:
  • ROOMS:

Friday’s Failure – Market is Still on the Road to Nowhere

Still on that road to nowhere.    Last Friday and the Friday before that, our bounce chart has looked like this: Dow  36,000 to 34,200 has bounce lines of  34,560  (weak) and  34,920  (strong)  S&P 4,700 to 4,465 has bounce lines of  4,512  (weak) and  4,559  (strong)  Nasdaq 16,500 to 15,675 has bounce lines of  15,840  (weak) and  16,005  (strong)  Russell 2,400 to 2,080 has bounce lines of  2,144  (weak) and  2,208  (strong) Sadly, these are the bounce lines from our December highs, so we've been going nowhere for over 2 months now and that is NOT a bullish sign.  It is, however, a sensible sign as these are lines off the top and the top was RIDICULOUS and that's why they call it a " correction " and not a " mistake " – the market is simply pulling back to a more realistic level.  That's why our rolling strategy is so important and I went over that with our Members in yesterday's Live Chat Room  as there's no sense in going through these pullbacks if you are not…

Still on that road to nowhere.  

Last Friday and the Friday before that, our bounce chart has looked like this:

  • Dow  36,000 to 34,200 has bounce lines of 34,560 (weak) and 34,920 (strong) 
  • S&P 4,700 to 4,465 has bounce lines of 4,512 (weak) and 4,559 (strong) 
  • Nasdaq 16,500 to 15,675 has bounce lines of 15,840 (weak) and 16,005 (strong) 
  • Russell 2,400 to 2,080 has bounce lines of 2,144 (weak) and 2,208 (strong)

Warren buffet | Tony Evans - TokyoSadly, these are the bounce lines from our December highs, so we've been going nowhere for over 2 months now and that is NOT a bullish sign.  It is, however, a sensible sign as these are lines off the top and the top was RIDICULOUS and that's why they call it a "correction" and not a "mistake" – the market is simply pulling back to a more realistic level.  That's why our rolling strategy is so important and I went over that with our Members in yesterday's Live Chat Room as there's no sense in going through these pullbacks if you are not…
continue reading

Data & News supplied by www.cloudquote.io
Stock quotes supplied by Barchart
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.
 
 
Copyright © 2010-2020 Burlingame.com & California Media Partners, LLC. All rights reserved.