Will Friday's rally continue or was it just a "dead cat bounce"? There is no doubt about it, we have been seeing lots of volatility in the markets. Is it likely to continue? Like in the past, it will continue until it stops and the market settles down. Nobody can give you an exact timeline when that's going to happen, but it will happen. In the meantime, having a solid game plan, one that you know has been successful in the past, will lead you to successful trades.
You've heard me say this before, the market can only move three ways, it can go up, down and sideways, that's it! When you boil it down to those simple terms, it is easy to see how investors can create many of their own problems by over-thinking a situation. You may have been guilty of this yourself at some point in time, I know I have. It is so easy to get caught up with the hubris of the market and lose sight of your investment goals. It's also easy to fall into the trap of listening to too many talking heads. Oftentimes when this happens, it leads to confusion and will leave you in a state of paralysis.
Just looking at the market and using a simple game plan, like the one I use here at MarketClub, tends to keep you on the right investment track. According to the Trade Triangle technology, the trend remains down regardless of the strong rally that showed up on Friday. That rally could easily have been caused by bargain-hunters and the shorts covering their positions.
Today's video includes a look at the general markets and the recent price action in gold (FOREX:XAUUSDO).
I would like to thank all of our members who participated in "Our Most Important Poll Ever". We had some amazing comments and feedback from members, some of whom have direct information about the CDC and others from parts of Africa, giving us an "in the trenches" ground view of what's really going on. If you haven't checked out this poll yet, you may want to do so today and share your comments with other members.
Here's your invitation to interact in a friendly, non-confrontational manner with other members and with the MarketClub team. Let us know what you think is going on in the markets and what you're looking at and trading. The greater the interaction we have between us, the greater the understanding we will all have as the markets march through time.
Every success with MarketClub,