It’s crazy out there.
Currencies are literally “all over the map” with several of the usual correlations giving traders/analysts a good run for their money. Eur up and stocks down, continued JPY strength in the face of risk aversion, and the British Pound (GBP) on a tear.
In equities the transports ($tran) have taken it on the chin, with Fed EX pummelled over last several days, and the massive market leader APPL having lost 200 billion in market cap. 200 billion! – Poof…gone.
Earnings will likely disappoint, we’ve got seasonal selling ahead (“sell in may?”), tensions in North Korea moving higher, terrible employment numbers (again) in the U.S , and of course – and any number of “unforseen events” far more likely bad than good.
So…..Is it a dip or a turn?
Time to trade or invest?
I’ll have to leave it up to you decide the best course of action, as you’ve all seen my charts and read my views. Regardless of any short-term action ( as the possibility of another “pop higher” in risk always remains ) seriously….
If a broker/trader hasn’t picked a top, or the area to sell and book profits – what possibly likelihood would there be in timing a “scoop buy / dip” for a few more points?
For the most part – by the time retail is convinced the water’s are safe, the move has already passed – and you’re once again caught……buying the top.