DoesntAddUp: Well we could see more down from here, but I suspect not much before at least a sizeable bounce.
I've been playing this recent down move since it started in early July. In fact, I was expecting it when most the market direction folks were looking for the markets to continue up. I said back then that I expected the price action to come down and test the falling support lines for the NAZ Comp and NDX/QQQ. That happened...
I have done pretty well riding these swings, but because my models are mixed with the daily being the fly in the ointment for now, I admint I may be early. However, I wanted to get an initial position in place as these support lines were being tested, just in case. And, depending on how my MTF Models cycle, I "may" average in, into marginal dips below.
We shall see...
Regards,
LG
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