Saturday, April 7, 2012

It Might Be Good Friday, but The Market Might Turn Bad

The market was closed for good Friday, but get ready for the market to be turning bad. I think we are headed for a major pullback starting next week. The market and many stocks are severely overbought.

There will be a summer rally however maybe in July, followed by late summer selloff.

The Nasdaq in particular is extremely overbought and put in a reversal candlestick.

For next week I would be considering the low and lower range binary options in AAPL, EUR/USD, as well as the Aussie Dollar as the commodities tend to get spanked when the markets pull back.

Can also look at the Nasdaq on the lower side, but highly correlated Nasdaq stocks as well I can see making easy money on.

If what I suspect is going to happen, I expect to be making easy money online as the moves will likely break some levels and hang there.

1 comment:

  1. Any chance of you updating this blog ? I used to love reading your little snippets about options trading.