Otmane El Rhazi – The Stock Market Bounce

Otmane EL RHAZI : The market found the low allegedly, and the big issue now is whether the bottom is in or if they can waste enough time to avoid hitting a fresh top when the bull market becomes 261 weeks young come March. The last time a bull market hit 261 weeks of age, we had the pivot high for an entire generation. Right now, the NDX assets has more than a 61% retracement of the entire drop in three days. That is a strong case for a low being in place in assistance. We already have housing stocks like LEN that have hit new relative highs.

Leave a comment

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: