If it won't be a constitutional court to take the euro bullet, then it will be a parliament or a bank. One down, two to go, while the whole shebang still remains very bankrupt.
I did not once yesterday consider how the day's turnaround might be like the same on Friday, August 26th after what was a rough start to that day's trading, too. I might have thought, then, today could set up to be almost a carbon copy of Monday, August 29th (which it was)...
Today's extension of yesterday's rally off bottom only raises the image of a cat toying with a trapped mouse. There is absolutely no substantial interest underlying this rally, that is any preceding indication revealing stocks were being accumulated in anticipation of a sustained advance. Rather selling off last Wednesday's peak simply abated yesterday, and this primarily accommodated the market's turn higher today. Of course, a fat pre-market bid this morning, building on Europe's "fantasy lives another day," counter-trend bounce, played a large part goosing today's move higher.
So, it appears an a-b-c corrective wave forming wave (2) of C off August 22nd end of wave (1) of C still is unfolding. Once this completes over the next couple days, look out below.
* * * * *
© The Risk Averse Alert — Advocating a patient, disciplined approach to stock market investing. Overriding objective is limiting financial risk. Minimizing investment capital loss is a priority.
Analysis centers on the stock market's path of least resistance. Long-term, this drives a simple strategy for safely investing a 401(k) for maximum profit. Intermediate-term, investing with stock index tracking-ETFs (both their long and short varieties) is advanced. Short-term, stock index options occasionally offer extraordinary profit opportunities when the stock market is moving along its projected path.
Nothing is set in stone. Nor is the stock market's path of least resistance always known. More often than not, there are no stock index option positions recommended.
There's an easy way to boost your investment discipline...Get Real-Time Trade Notification!
