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Nadeem Walayat Financial Markets Analysiis and Trend Forecasts

Stock Market Wait For A Pullback Before Making New Buys

Stock-Markets / Stock Markets 2011 Oct 11, 2011 - 01:39 PM GMT

By: David_Grandey

Stock-Markets

The S&P 500 is up 10% in 6 days!
Until we get some sort of pullback there is nothing to do on the longside, that is unless you like chasing buses at these levels. We don’t and we won’t. But if we get some sort of ABC pullback? A Pullback Off Highs (POH)?, then a launch? Sure then we can SELECTIVELY step up to the plate.


Daily Time Frequency Charts

As you can see we have the 5 waves down we’ve been talking about for months now looking complete. From here it’s what to do with a pullback. And of course the depth of that pullback that we really want to pay attention to. We’ll know in the next few days. Suffice it to say we are leaning to the longside from now till end of year.

By David Grandey www.allabouttrends.net

    To learn more, sign up for our free newsletter and receive our free report -- "How To Outperform 90% Of Wall Street With Just $500 A Week."

    David Grandey is the founder of All About Trends, an email newsletter service revealing stocks in ideal set-ups offering potential significant short-term gains. A successful canslim-based stock market investor for the past 10 years, he has worked for Meriwest Credit Union Silicon Valley Bank, helping to establish brand awareness and credibility through feature editorial coverage in leading national and local news media.

    © 2011 Copyright  David Grandey- All Rights Reserved

    Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors.


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