Recently I’ve been very focused on looking into companies, but I felt that it was time to take a step back and look at the bigger picture. As they say, “A rising tide lifts all boats.” Now, I ask myself, is the tide still rising? I personally don’t see a point trying to surf when there’s a tsunami out there. The probabilities simply work against you.
The Big Picture:
Overall trend of the market remains bullish, although I do feel that market is a little on the higher side. To me, it means that many stocks have been experiencing good gains and retracement could be coming soon.
Starting off with the charts, I feel that the market is going to hit a few resistance levels in weeks to come and could possibly see a correction back into the 3300-3380 region. The move on the week of 23 Jan broke ......