Today is my birthday, but it does not indicate the direction of the market next week at all. :)
By looking at the DOW daily chart, in worst case, we have to wait another 4 days before a decent rebound; while in best case scenario, the rebound comes tomorrow, according to the oversold financial sector. I successfully predicated the rebound of financial stocks yesterday, but the weak data terminated the rebound attempt. I guess another attempt will come tomorrow, let's see how it will go.
Anyway, I am not suggesting any bottom fishing tomorrow, as if the rebound fails, there will be 2-3 days of panic selling in next week, then the market will be extremely oversold. Based on current weather, any 3 panic selling will lead the market to 2006 lows, then I expect huge buying power will come and the market may reach the real bottom. Hold you fire and wait for that moment.
If the market goes up tomorrow, I suggest you to wait for several days. Next week is very essential for mid-term chart, any decline for next week will form a bearish picture while positive while candle stick remains hope for bulls. I expect the world equity market will somehow change to a positive mode around April.
Regarding A/H shares in China, any panic selling before Taiwan election will be buying opportunities. I don't believe there will be any war in any case.
I feel all the coincidences come together, most political/economical events signal a better April for global markets.
For candidates of bottom fishing, still, commodities, shipping and home builder.
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1 comment:
happy birthday! thanks for your hard work.
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