Lots of dirt cheap buys out there in the market, but will it drop even lower? When it does recover, will the companies you invested in recover as well? Will the even be around to see it run? Its a very interesting time indeed. The catastrophe in 2008 definitely made some people very rich, lets all try to be in that boat this time around!
The current trend looks like it may be approaching a correction here soon. It's had a steady climb since the beginning of April, and not my preferred time to enter a trade. RSI does not have bearish divergence yet, but you can see it is leveling off and losing momentum as price continues to rise. I've always relied heavily on RSI to indicate when we are getting close to the top or bottom of a trend. Hurdles incoming: Mid channel resistance, 200 EMA on the weekly. My prediction is that we will retrace to the golden pocket and/or bright green zone where we find a very strong looking confluence of support. This could set up a higher low and/or double bottom to really get us driving through into a bull run. If it fails, the 1800s may be in our sights.
The current trend looks like it may be approaching a correction here soon. It's had a steady climb since the beginning of April, and not my preferred time to enter a trade. RSI does not have bearish divergence yet, but you can see it is leveling off and losing momentum as price continues to rise. I've always relied heavily on RSI to indicate when we are getting close to the top or bottom of a trend. Hurdles incoming: Mid channel resistance, 200 EMA on the weekly. My prediction is that we will retrace to the golden pocket and/or bright green zone where we find a very strong looking confluence of support. This could set up a higher low and/or double bottom to really get us driving through into a bull run. If it fails, the 1800s may be in our sights.
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