lc
I’ve been quiet for a couple of weeks, but the recent market climate is making me want to speak out.
If I thought at the start of April that globalstocks looked overbought, I felt semi-vindicated when they ended down over 4% on the month.
However, they’ve bounced back in May and have moved even higher!!
What next?
I believe we’re witnessing a climate that yet again resides in ‘over bought’ conditions.
Analysts have started to change their projections (again), and retail money has been flooding into the market. This always happens before the momentum runs out.
As a technical trader, the charts suggest that momentum is dwindling AGAIN.
All we need now is a stimulus.
Shortsellers get your ammunition ready.
If you were fortunate enough to take your profits in April, there might be even better opportunities ahead.
For me-
The markets look like they’re about to retrace again!!
The risk- NVIDIA earnings tomorrow. However, if they disappoint- these markets might tumble.
#ustech #wealthmanagement #ifa #financialadvice
