Short Term Trading Week Starting: 17 Dec, page-25

@ @VVX565

I am 100% in agreement that trying to call the direction of the market atm is unnecessary, frustrating and self deluding quite often. Let the price action talk to you and have a plan of action if a buy or sell signal in your own methodology is triggered.

Very few at 9.30 am today would have said that the XJO would be up exactly 1% at 4 .00 pm,  after the Friday decline in Aust. and big sell off in the US.

I still believe that Radx is overly pessimistic about equities and IMO a 25 basis point raise by the FED this week, and then an outlook report that hints at few if any rises in 2019 will trigger a very strong rally in the US. Probably no new all time highs, but somewhere close, is quite a possibility.

I am still long equities and not prepared to short this market as it is at relatively low levels right now. P/E ratios are about where they should be, and business confidence in Aust. is reasonably high. The residential market is obviously going to go lower, and it will have some fallout.