Market Watch: Rare ‘Bottom’ Signal Emerges
No one can pinpoint the exact bottom to this market and when it happens.
But traders can watch for clues.
Simpler’s moderators are tracking resources about past market crisis history.
And a significant clue has emerged from a lesser-known indicator.
This is a rare indicator signaling possible recovery from oversold conditions in the market. It hasn’t happened since December 2018.
The next signal from this indicator – if it occurs within a 10-day window – deals with a switch to overbought, or not.
As this signal forms, traders should maintain non-emotional strategies to trade a bear market that has experienced historical highs and lows.
As Simpler’s traders have said, even with an upside turn there were significant retracements in crises past.
This isn’t the “dull” rising market of just a few months ago.
Simpler’s traders are happy to take profits and recycle the capital back into their account.
We Saw: a second consecutive day of indexes rebounding –
- Astronomical stimulus bill moving through Congress
- Bulls desperate to push the trend across indexes
- Analysts barking about tickers prepped to rebound
We’re Watching: … for more confirmation on a bottom –
- Will the bullish rally hold?
- Why are internals not supporting the bulls?
- Final tally, market reaction to job loss numbers
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