DayTradingRadio.com 2019 Legal Disclaimer and Full Risk Disclosure; [ Ссылка ] We left off with the markets right near all time highs. I have been adamant on not taking any shorts the last 3 weeks and even though we are extended to a point where most are calling for pullback there are many reasons why we can continue to move higher.
Even though there is no official HPS watch list for this week, I still see no reason to try to time a big pullback in the market. The last 2 watch list videos and Market Radars made my argument of the markets beginning a larger bullish cycle where we will find the pullbacks smaller and trajectory of the move higher steeper.
One major call I made a few weeks ago is that the Brexit would not pull the market down as everyone expected, instead it would drive money into the US markets and we would see out market break out to all time highs.
Here’s my analogy of the current market, There’s always been a saying “When the US sneezes the world catches cold” well that what has happened in 2008 and 2012.
We had our housing bubble and our financial banking crisis and there is no doubt it effected the the world markets. We recovered and in that recovery had become a blueprint for the world to follow as they are now experiencing issues of there own.
We had our terrorist attack that rocked the world and sent us to war. The result has changed the way we protect our borders and is an on going concern even today. Today we are seeing terror attacks daily around the world and even lone wolf attacks here in the US. This is the new world but we have a huge advantage. We are separated by major oceans and the land borders that in comparison with other countries are much easier to manage and control.
There is no doubt that most of us are in agreement that we have entered a new era in politics and how we interact with other countries of the world.
Predicting events will be impossible and I can’t say that the next major crisis is not going to be tomorrow or next week but we have a special way of timing the markets that has been proven to work better then everything else. Until this fails to work I will continue to have the patience to wait for the next great trade. This week I am off and in one way I feel I have a responsibility to follow the markets closely and I will try to do that and update you on any new set ups but remember patience is one of the key qualities of a successful trader.
Right now we have multiple time frames that are showing a good chance of a small to medium pullback. Personally I think this plays out to the downside early in the week, but the markets have crushed the market timers. I have a nack for timing my vacation during major market moves. I recommend caution in either case this week. I will be back on Friday. DISCLAIMER
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