You would figure the announcement in Europe would boost Europe more than the US, but it has been the opposite. It emphasizes once again the importance of shorting the weaker indices, not the stronger ones. Europe is still underperforming the US, even with all the announcements by Draghi.
Same goes for bonds. The US Treasuries continue to lag the German Bunds.
We are getting a gap down today, I would use any one percent pullbacks to get long ES exposure. That means a move down to ES 1959 would be a buy. Wait for your spots and buy, that is high probability way of making money in this bull market.
It is a slow market, the blog posts in the coming weeks will be sparse as there is nothing much to say.
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2 comments:
Will this correction be deeper? Coz I don't remember seeing any important news.
Yes. I was thinking ES 1959 would be decent support but it cracked easily. There is some support at 1952 but below that 1943, which is around SPX 1950. I am waiting to buy at 1945 now.
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