makemoney18, I'm contemplating about getting back in the market today. I have many reasons, first being that Dow Jones Industrial Avg. (DJIA) hit an historical high. Others being that the (DJIA) and the S&P 500 are signaling and confirming bullish candlesticks. To strengthen the argument, the Vanguard Total Stock Market ETF (VTI) is signaling and confirming bullish candlesticks if I see the chart correctly.
However, I never use candlesticks on indexes. Sure, with stocks if it signals and confirms a bullish candlestick that's fine and dandy; but with indexes you have to really step back and look at the bigger picture. The NASDAQ seems to still be bearish with candlesticks. The rally yesterday was because of the Fed taper, emotional. Gains should be erased the next day, today.
I'm on the fence and I am simply sharing because this is the first time that I have seriously considered getting back into the market since I have been out on April 11, 2014. If I do I will wait until after 10:30 AM for a few reasons. Well, I don't buy or sell in the first half hour, once again; I wait for market emotion. There is some important reports to come out today at 10 AM. I sound like a broken record, but once again I will wait for the market emotion.
I'm on the fence, better yet. There might as well be razor wire and an electrical current, as there is more important reports to come out tomorrow. I see a lot of volatility, for better or worse.
Stocks on watch list.
GenCorp Inc. (GY)
Chicago Bridge & Iron Company N.V. (CBI)
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