Will We Retest the March Lows?
7/23/2009 9:44:57 PM
This is a question that is not on anyone's radar at this time, that's why it needs to be on yours. Because I believe we will test the lows and we're going to do it soon. Why?
Based on the following chart, we see limited participation in this rally based on the new high list.
What is shows is a flat area where the market bounces, but there's a balance between new highs and new lows. This is indicative of a short term bounce, not a new bull market.
Hold on to your seat, we're testing the March Lows. Next question is when?
Well, if you subscribe to the Daily Stock Barometer, you'll know that our next key reversal date isn't until September 14th. I believe that will be the day.
What would cause me to change my forecast? Well, there are simply too many variations that can take place. But the only way you will find out is if you subscribe to the Daily Stock Barometer.
Not sure? How about this special bonus - I'm about to complete an e-book on day trading for people with day jobs. A report on just how to take advantage of one or two moves in the market to significantly boost your trading returns. Well, if you subscribe now, and simply state when signing up that you want an advance copy of this e-book, it will be yours absolutely free.
So sign up today and with your paid subscription you will get a copy of my day trading e-book absolutely free. We should be shiping it out next week, so be the first to get a copy. Oh yeah, and be the first to be positioned for the upcoming retest.
You can sign up here:
Don't forget to request your free copy of our day trading e-book when you do.