The Song Remains The Same
In this video, Bruce discusses the continued weakness in the overall market. We have had lots of warning signs since the start of the year and have fallen over 10% since then. Bruce is still pulling for the Bulls, but today we broke below the 200 SMA (Simple Moving Average) as yet another Bearish sign. While this type of deeply oversold market can rally very quickly and violently, we need to use extreme caution in this market and only take trades with an edge until the smoke clears. Therefore, we wait and watch and sit on our hands more than normal for not good, but great trades, and be ready to pounce.
