I wrote a warning on Monday morning (see previous post) that passing a reaction line is a sometime precarious event and markets usually make tops or bottoms on this occasion. Please remember that tops are mirrors of bottoms from the past. The accuracy is not perfect but if you ‘add’ the gaps, then you fall back on your feet!
Similar to previous market action shown in ellipse, S&P500 has moved above the reaction line and then fell down back on it yesterday. In theory, our drunkard can walk down to 2800 and 2685 afterwards. The uptrend is still there, so you should not worry too much and it will open some buying opportunities on many stocks already in up-trend.
A quick note about comments
While I see genuine comments, I guess many are also an opportunity to post links to your own business. While I do not mind which business you are in, I do think that relying on chance of someone clicking on your name in the comments section is not the best way to get opportunities for you. I do understand that even one click out of ten thousands can make your business profitable but it clearly does not help the blog writer to have comments from ‘b.tt pl.g’ or ‘huge cl.t’. Sorry you should not read this if you are under 18. I am not after huge audience, only people authentically interested by the subject. From now on, please consider a cool name like ‘Warren B.’ or ‘Barrack O.’ and you can still link to your site if you wish. I will be more cautious from now on when validating comments!
TTYL
Like!! Great article post.Really thank you! Really Cool.