Recently we have issued frequent reminders that the market would likely offer better set-ups and better opportunities down the road – which seems to be coming to fruition.
Traders took some gains on Friday, though the market finished off the worst levels of the day.
Today, though, traders were met with some pretty atrocious action in the international markets. And folks are talking about recent weak US economic data.
But the market had recently soared and was, in our humble opinion, in need of a pull-back. And even with some recent churning action, we have felt that the market was overbought, extended to the upside.
It will pay to watch what the dip-buyers do here, but this is just the kind of action that we need to bring sanity back into the markets and provide those decent set-ups that we have been speaking about.
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