HGSI Doc Top Down Review 5.16.2021
Previously published earlier today, on the HGSI Community Forum. For earlier access to Dr. Scotts Top Down Review,
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That was a fun week!. The markets trapped a few Bulls early Monday and then most of the indices sold off and traveled Below their anticipated Weekly Expected Move Low on Wednesday. The week ended with a strong 2-day rally and got us back almost to where it started.
Based upon the strong close and some stronger seasonality over the next couple of weeks, we might see a few more days to the upside. That said, I do not expect this to be a new Bull Market but rather a retest of old Highs and them potentially a move lower. Of course, I am just a doctor and this is just a guess. Like you, I will be trading the market we have not the one I thought we would have on Saturday night.
I am moving houses in FL so for the next 2 weeks I might not be doing a review. This will depend on how much packing I can get in between work Zoom Calls.