Courtesy of Brian Shannon at Alphatrends
Large Range
The market loves to confuse the marjority of participants and I think a lot of people are shaking their heads at todays action in disbelief. Our job is not to question the market, but to interpret its message and forumulate our plan of action. Subscribers know that I did not have strong confidence in the long side in last night’s video but today those long stocks are performing very well. The charts below indicate that the market is consolidating the gains of the last two months by turning sideways and while in the ranges there will be excellent opportunities on the long and short side in the individual stocks.
[click on chart for larger view]
