Market seems oversold after the rejection of the 200MA. It looks like we are in time for a few rally days!
Bear market rallies are the strongest. Volatility whips both ways!
Historical Precedent
I wanted to share the 1990 precedent that I mentioned first during early May. I would like to point to the idea that we are quite short-term oversold (by looking at the speed and distance that we came down), so if you are short might be good idea to tighten stops, since we are likely to have a couple of rally days. Also to be clear, my personal guess (which not a tradable advice but just a gut feeling) is that we will not get the Easy Dollar Environment (EDE) so quickly like in 1990 but more like until end of the year. In the meantime I guess we would chop before a clear EDE in Oct-Jan.
Bear market rallies are the strongest. Volatility whips both ways!
Historical Precedent
I wanted to share the 1990 precedent that I mentioned first during early May. I would like to point to the idea that we are quite short-term oversold (by looking at the speed and distance that we came down), so if you are short might be good idea to tighten stops, since we are likely to have a couple of rally days. Also to be clear, my personal guess (which not a tradable advice but just a gut feeling) is that we will not get the Easy Dollar Environment (EDE) so quickly like in 1990 but more like until end of the year. In the meantime I guess we would chop before a clear EDE in Oct-Jan.
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