“It’s repetition of affirmations that leads to belief and once that belief becomes a deep conviction, things begin to happen.” – Muhammad Ali
We are finally seeing the Tech Turn we have been discussing and as detailed in out latest weekly outlook video, we were not going to be surprised with an early bounce to start the week but the action we saw on Monday was still a ‘sell the bounce’ as markets tend to give back those kinds of squeezes. The focus now is on those 200DMAs that will be exerting gravitational a pull for all the indices; that’s where the battle is going to be.
As we said on Twitter yesterday, make sure you fasten your seat-belts, things are likely going to get very interesting…
There is a lot going on and as always, there is really no substitute for real-time/live action. If you are interested in attending a daily morning call into NY with a more detailed live discussion on all the charts and ideas we highlight/review in the outlook video and here on the blog, you should check out our Daily Webinar Group.