One Way to Tell Whether This Selloff Is the Start of the Big One

Thursday’s selloff left some important questions about the health of the bull market dangling. Two stocks — AMZN and Boeing — could tell us as early as Friday morning whether investors have serious reason to worry. Both came within inches of Hidden Pivot correction targets after getting sold down hard. If the targets are decisively exceeded it would imply that the strength of selling in the market is now greater than the buying power that has pushed the broad averages to a continuous series of new record highs. We should also watch AAPL closely, since heavy selling in this important bellwether did no technical damage to the long-term charts. In fact, the stock, which settled at 154.95, down $6, still has an unfulfilled, very long-term rally target at 168.46.

  • none August 11, 2017, 5:52 am

    Sentiment is the leader in understanding and then taking action towards market investment.

    The ‘Rick Site’ here has mention but has also acted on the side of the few, which is always the side one must invest and trade towards.

    Go and search other trading sites notice what they are suggesting about the short term and long term thinking, as to where markets are and where they can go (Armstrong ‘Phase Transition’ as an example).

    This phase of the market seems all is quite in order that ‘value’ is in place (‘Dr. Ed’s Blog’, the letters ‘Dr.’ should place a cold chill down your spine for advice) , ‘what is obvious is oblivious wrong’.

    Its always the ‘under current’ that trading and investing where traders must seek profit as the herd trades and invest to what is obvious. It is always this way, and will continue.

    Rick has brought up certain thinking, that move towards the under current, what is not the obvious, because of this the Rick Site or Rick himself will remain ‘not main stream’.

    A trader and newsletter writer is difficult because those that are of the herd, most times remain there, their future has a comfort problem which is consume with fear.

    As, the longer degree towards the trend takes hold, the rolling over (up or down) takes time and that time frame is a window towards greater success. A writer in market thinking must lead towards such a process and see many events without losing the thinking of that under current, which will in time become the current itself.

    It is at that inflection point when the under current becomes the current itself and exposes itself, that all stops are clean off the brokers deck.

    Stay the course Rick and have a great weekend.