Lets face it – if you are some kind of “eternal optimist” you’re gonna seriously need to re adjust your thinking in coming months. If the “kool-aid” of global central bank easing, and charts filled with wonderful green candles all sloping to the sky has become your “norm” – then get ready for a good swift kick to the face.
Seriously….you’ve got to be kidding if you honestly think this is for real – and even more so a fool, if you’ve any ideas that it’s going to continue for much longer. The stock market has long and since become a complete and total sham ( as computers make up most of the daily activity – all being that most Americans have already been robbed of their savings) and the entire thing is more or less being held up with phony money coming out of Washington.
Please correct me if I am wrong. If you actually believe the numbers posted on CNBC – you need to have your head examined.
Looking ahead, and making plans for the future is a key element – defining a successful trader. You see you’ve got profits today – so (greedily) you hang on for tomorrow, only to see you are back at zero again. You buy when the T.V suggests all things are well – and you sell when they suggest the opposite. In other words….you continue to do exactly what they say….yet wonder why you keep getting rinsed.
As far as a chart pattern goes – imagine 2013 looking more like a 5 year old sitting at the kitchen table with a set of crayons. At best we are looking at one big wonderful mess.Up one day and down the next….then up two days then down for 4. A bunch of lines / squiggles – near impossible for the untrained eye to navigate.
I continue to caution you – this is a top – not a bottom.