Thursday 11 April 2013

Short-Term Uncertainty

I believe we are now entering uncertain territory. Last night, S&P broke to higher levels by taking out its prior all-time intraday high. Same goes for NASDAQ Composite and S&P Financial Sector which made new bull market highs. (these were the two areas underperforming recently). All this means that previous highs are theoretically now act as support. (Resistance turn support). 

From here onwards, its uncertain how long the bull market will last. When will major counters start getting haircuts. I will DEFINITELY anticipate a reversal soon enough, so it is time to "Sell In May, and Go Away".

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