S&P 500 Monthly: Yahoo! Ride 'em cowboy and cowgirl ... !
Somehow, ride 'em cow person didn't sound quite right.
What a difference one day can make.
- Not only filling the 2nd Quarter opening gap down but closing above the minimum .382 retracement level.
The 'b' (or 2?) has finally found a foothold and gotten underway. What seems to be somewhat lacking however, is average trading volume surpassing that which occurred on the move down. That could change of course as investors become more emboldened and convinced that the market 'correction' has run it's course.
Note though, it is somewhat of a truism that the market will tend to draw (suck) in the most people that it can at precisely the wrong time… so … the higher it goes, the more investors and traders will become convinced and likely to commit to it. The algorithm's don't care, they go with the direction at any given point in time, pushing it even further than fundamentals might justify.
Where might the market retracement get to … ? Think maximum but abide by 'The Boy Scout Motto'.
What a difference one day can make.
- Not only filling the 2nd Quarter opening gap down but closing above the minimum .382 retracement level.
The 'b' (or 2?) has finally found a foothold and gotten underway. What seems to be somewhat lacking however, is average trading volume surpassing that which occurred on the move down. That could change of course as investors become more emboldened and convinced that the market 'correction' has run it's course.
Note though, it is somewhat of a truism that the market will tend to draw (suck) in the most people that it can at precisely the wrong time… so … the higher it goes, the more investors and traders will become convinced and likely to commit to it. The algorithm's don't care, they go with the direction at any given point in time, pushing it even further than fundamentals might justify.
Where might the market retracement get to … ? Think maximum but abide by 'The Boy Scout Motto'.
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