HGSI Top Down Review 7.20.2014
Was that a Bull Trap on Friday or was that a really short term correction and are we off to new highs?
What a crazy week. World tensions increase, a commercial airliner is short from the skies (bless their souls) and Janet talks down the market. Thursday saw a huge sell off in response and the Bears came out on all the major financial news stations talking about why the bull may be over. Then we awoke on Friday to a big up move in the Futures which kept on running once the market opened. I scoured my TV and emails looking for a reason for the bounce and I am still scratching my head. Perhaps it is the QE. Perhaps the PROs are doing whatever they can to get the last of the small investors off the couch and back in the game. Maybe we are back to buying every pullback. Whatever the reason, Friday cancelled out the decline of Thursday and the SP500 actually eked out a gain. now what holds for our investment accounts? I may not have the answer but please join me while I at least try and take a look. Have a great week.