After only a short weeks downtrend, the market went back into a new uptrend yesterday after three strong up days in a row.
With market reactions to the Brexit vote we entered another downturn.
I have been way late with this update. But with this past week with volatility related to the potential Brexit it is about time to update. The market it expecting a “stay” vote based on todays market action. The market continues to be in an uptrend that started March 1st.
After a market that has been shifting very little in direction in all of 2015 we have now had three directional shifts since December 11th. Volatility is increasing. The market went into a new downtrend yesterday January 4th.
The shortest downtrend in years is already over. The market went into an uptrend again yesterday.
The market went into a downtrend on Friday December 11th.
The markets rallied strongly on great volume yesterday pushing the market into another uptrend, making the previous downtrend a short one.
After being in an uptrend since mid February for an unprecedented six months, the market went into a downtrend on Friday after a massive down week. Despite being in an uptrend the market has been very choppy all summer. There is a massive bear market coming, but is this the start of it or just another bump on the markets way to its final top? No one knows for sure, so follow what the market. Make sure you exit your positions while they are still profitable and hold off any new purchases until the market is in a new uptrend.
The market went into a new uptrend on Tuesday February 10th after moving in sideways action since the middle of December.
The market went into a downtrend yesterday. It has now been in an uptrend since October 20th. Oil prices have corrected massively lately and dragged the markets down with them. The S&P cut through its 50 day moving average line yesterday on increased volume. Be careful with your stock holdings when the market is in a downtrend and make sure not to turn a winning position into a loosing one. Switching out of stocks and into cash is always a good idea when the market is in a downturn.