Two things...
First, five waves down from May 1st peak could have completed today.
And second, the arbitrary line of S&P 500 support/resistance identified a few days ago has been crossed, and this with volume increasing right into today's bottom. All signs are there's more selling ahead. Still, a challenge of resistance lasting some days could prove useful technical setup for an imminent gassing (that is if this is to be — if resistance proves of consequence).
* * * * *
© 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!
