Honestly…shame on myself for not taking full advantage of this rally. Don’t get me wrong, we are making money during it but I would have made a lot more.
Frankly what got me so upset over the weekend was that I KNEW this rally was coming. Anyone who’s a coaching student knows I’ve been talking about the “Expected, Unexpected Rally” for months!
Case in point – I posted about it at the bottom. Here’s the post from September 1st.
Moving on from my anger at myself for not believing in my gut about the market direction…
Here’s the most recent SPX chart I wanted to share. I’ve talked about the Fibonacci levels being strong resistance for a while. Well, we have broken above those and made a very successful retracement last week.
Will the rally continue – who the heck knows now. Everything is over-bought and I still won’t touch LONGS. But this could easily last another week.
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