A little time off

Hi all,

I’ve not disappeared, just taking some time away from the blog and markets.

I’m still fully trading, but rather than being at my computer, I’m doing a few projects around the home and away from the screens.

quick look @ S&P500, tells me that its currently stalling at new highs, It’s been a sideways market since March 2014, overall the trend is stalling but within an uptrend = bias to the upside.

Could it turn into a down trend?  Of course it could, potentially but certainly not confirmed is leg 1 and 2 of an Elliott Wave, but that needs much more content and detail to be proven correct and it is at odds with the overall direction of the market, but it is a possibility.

In my opinion you cannot make classifications that the trend has changed – that would simply be a pure guess – W.D. Gann said “Do not guess, trade facts”.  The overriding facts are uptrend since 2009, no bearish confirmation of late, pullbacks in the overall trend in line with previous in both TIME and PRICE so the outlook must be to the upside and Bullish until the market proves us wrong.

I have no doubt that in the next few months the market (S&P500/FTSE100 etc) will have a fairly decent sell off, I just don’t know exactly when and neither does anybody else.  Following that sell-off will be a very decent buying opportunity, certainly for the short-term and maybe for the long term.

Only time will tell exactly what happens, the trick is being part of it or out of it, not on the wrong side of it – that is what helps you to make money from the markets.

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