HGSI Doc Top Down Review 4.24.2016
What a rally we have had since about Feb 11 2016. Who would have thought we would have been led by iron ore, steel, oil and gas exploration and services? This has truly been a junk off the bottom rally and I demonstrate how the worst performers prior to 2.11 have been some of the best since using my favorite tools.
Friday was tech wreck, especially for new tech as GOOGLE pulled down the NASD 100 and many of the FANG and Canary stocks with it. The biggest surprise was despite this the market internals held up for another bullish close for all except this index.
What will this week bring? The likely answer is to continue our grind towards old and potentially new highs. But alas, after such long runs, the risk of correction or resumption of the BEAR grows.
For me I am fastening my seat belts as we go thru a very busy week of earnings reports and news. My bet is the results from AMZN, AAPL and FB will determine the fate of the NASDAQ 100 and the NASDAQ 100 will determine the fate of the general market, at least for the short term.
Please join me on my weekly report. Please consider joining me live in PALM BEACH SEPT 23 for my only solo or hosted live seminar this year. Better yet, join me on the 23rd and stay for 3 more days of education from a world class trader, John Person.
Trade safe my friends