The market has risen for four days in a row, each time closing strong, at its highs. I looked back into this and previous bull market and found some similar cases. My requirements were a strong move up after a bigger correction, multiday rally with very small intraday corrections.
I found that corrections, when they come, are not larger than 10-15 SPX points. Also, the market keeps going up relentlessly, many times to new highs. As the rally gets longer, there are some corrections of 20-25 SPX points, but nothing more.
Here are the instances I looked at:
> March - April 2011, September 2010, December 2010, July 2009, September 2009, May 2005, Oct-Nov 2004 <
Here is Oct-Nov 2004:
To sum up, a 10 points correction would be a benediction at these levels. I think we will get it today. If it comes early, I will try to buy it, if it comes after lunch time, I will wait until Tuesday.
2 comments:
Adi, Please give me at least 20 points correction, I am dying here:-)!
Tony
Tony, I can only hope the market is so generous.
Post a Comment