ETFs, Leveraged ETFs, Sector Funds

[No-Quarter]

I believe I have mentioned this before. One of the market prognosticators I follow is here with his most current update.

http://www.marketwatch.com/story/bull-market-resting-but-not-likely-over-2016-01-11

In the above article he says the following which I find interesting and tend to believe –

… if 1895SPX does not hold early this coming week ..., then it opens the door for us to see extensions in this ... as low as the August (2015) lows, which would set us up to strike the lower end of our target zone down in the 1750-1770SPX region by the time we complete this entire drop in a month or so from now.

The regions of importance to watch in this week are the 1895 level in the SPX for support early in the week and the 1950-65SPX region later in the week. Those two regions will likely tell us if we break the August lows for this correction, or if a triangle pushes this correction out to the late spring, but does not break the August lows.

(note; it hit 1895 today)

As I have said before, I still do not think it is likely that the bull market which began in 2009 has concluded.

Furthermore, if you look at the long-term chart, this is the first correction we have had since the 2009 low which has been more sideways and drawn out in time than just a spike down and resumption of the upward trend, which is what we experienced for every other correction over the last six years. traveling so far so fast.

(note; I have been buying these drops and selling for a profit 2-4 times a year successfully for over two years now, until this most recent sideways move that cought me on the wrong side of the market when it dramatically turned down last week)

FYI, GLTY