Tuesday, June 13, 7:19 am EST. Well, it would appear that we are getting just the pullback I had hoped for. I’ll update the timer, and see if the measures of risk are beginning to head for their reset, that we might begin to anticipate the next rally… and, may that one have conviction behind it, in the form of big volume.
It’s hard to believe, but with lower lows in place in December and March, we have a bullish picture before us. This is further reinforced by the bullish wedge pattern being eked out since the highs of last summer.
I’ll check the charts, and look at the prices again this morning, but what I think I see is that period of consolidation, of retracement, of correction since the last rally that began 5/4, and we really want that to play all the way out until our measures of risk are all wrung-out, then I’m going to step up and add some shares… probably by way of a position in the Triple-Leveraged ETF, NUGT, as trade.
If anything of further interest shows up, I’ll be back with it.