Wednesday, April 04, 2018

The Theme Everywhere - Just Holding And Consolidating

I've used the China ETF FXI as an example here but anyone with a television knows the market is just barely holding at support levels. The general feeling amongst the chartists in the blogosphere is that this is going to break up but the advice we have been giving to everyone is that it's best to stay in cash until we see where this goes, or alternatively, have very tight stops. We have all been wrong before, but on a particularly big call like this that appears to be able to go either way lets see if the over-head resistances or supports are broken before we begin making bets again. The consolidating triangle is a theme not just here but in several ETF's so please stay nimble out there.