Saturday, April 22, 2017 11:43:14 AM
4/22 Conclusion: Is the correction over? Well, no, but it may be very soon. Objectively speaking, intermediate-term internals have declined to levels that could justify another leg up, and they are doing their best to bottom. The market has been correcting for seven weeks, which is sufficient, if not conclusive. We have IT and LT BUY signals, so my bias has to be weighted toward the bull. My posture is to look for an up move next week, and as last week, a daily PMO bottom will be the first, if not infallible, clue that the market is done correcting. If an upside breakout follows, I will believe it.
Join the InvestorsHub Community
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
