I have not much more different to say today than I said yesterday. The spike in the put/call ratio confirms my assumption of a correction in the next few days:
I think the market will stop after it rallies on the Fed announcement. My guess is, if the retail sales report does not bring a negative surprise, that the March contract will first reach about 1245 before selling off.
The real retail sales number will give me a clue as to when to expect the next bigger correction. I will provide a chart after the CPI release tomorrow.
2 comments:
Adi, thanks for the update. It is really helpful and fun to read your blog! Keep the good job!
Tony
Tony, thanks for the kind comment.
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