Markets advance, are they ready to go north?
No, I don’t think so.
Today I’ve got plenty of mails asking what my thoughts are about the rebound we saw today, most thought the market are ready to head north. But let me tell you something, when the markets (or economies) are in good shape, usually the indexes do small but constant increments, not as the one we saw today.
Lately we have seen many strong ups and downs and this only means one thing: uncertainty of investors of where the market should be heading.
Anyways, be careful with your trading decisions. These days we should take special attention on important levels, if the market breaks one important level, it should head for the next one, but done expect another break, take profits there, because bounces could be wild.