1929 Stock Market Crash or Are We in for a Bounce in the Stock Market?
Guess what…I actually had this question posed to me after Friday’s action. No one has a crystal ball but for quite a long time I have been out of this choppy grinding market. I recently had a post about Apple before it imploded. I would assume students that followed the rules in which I taught them have avoided this selloff. There is tremendous complacency and now questions are being asked why did the selloff occur on Friday…UM>>>>.
Could it be China only the worlds 2nd largest stock market
Could it be Greece…( soon Spain…Italy…Ireland..Portugal)
Could it be complacency…
Could it be greed…or I forgot..which I was told..We are in for a Super Cycle. I can stand a 20% selloff. Well I am so glad they know it can only be a 20% selloff.
The facts are very clearly:
The Stock market has been down on successively higher volume
Inability to rally much
The biggest Fact
When the Stock market that refuses to rally from a deeply oversold condition is a dangerous market.
I do not know what Monday or any day will bring…anything can happen and one needs a complete trading plan.
I am using this time to study past trades that I took and those that I missed in order to better myself. This is not a market I want to trade right now..