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Tuesday, December 21, 2010

We are Ready for a Bounce

Do you ever think these kind of events such as Christmas rally, January effect etc will have big impact on stock market? My answer is no, not much. Let's do this test, if you cover all the dates on your chart left only price candles sticks, will you be able to tell which day is holiday, when is when? No, the chart looks the same, they are up and down all the time.

STI finally came down touched its neckline, as we expected. But I'm looking for a rebounce rather than a break down at this point. I'm ready to load some longs if it goes my way.

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