Karpel’s Corner: Bulls are holding on

Welcome to Karpel’s Corner. This is where I throw out my thoughts on the markets and share some of my favorite strategies. I keep it market-focused, and never miss an opportunity to teach trading strategies and commentate on the latest trends affecting the financial markets. Hope you enjoy today’s post!

The bears thought that they had the bulls early, only to have that persistent bull grind back up all day despite the opening lows.

While I do not think that the spirt of the bear is broken, I do think that the resolve of the Bull is being tested.

With the $RUT forming the right shoulder in a bearish head-and-shoulder pattern, the Fed pulling by end of Q3, and question of the growth of the economy looming, I can understand why a pause is in order. And, with earnings on the radar, any tip of the hat to the negagtive side would not be good for an already over bought market.

While I am stating some of the obvious, this means keeping powder dry until we get a conclusive move is in order.

I’d like your feedback on a webinar I’m thinking about doing with our partners at MoneyBlock on trade adjustments. Just drop an e-mail to [email protected] with a YEA or NAY.

See you next time at the Corner!