Monday, 10 February 2014

Otmane EL RHAZI Trader taking the measure of the stock market bounce

Trader Otmane El Rhazi: The market found the low allegedly, and the big issue now is whether the bottom is in or if they can waste enough time to avoid hitting a fresh top when the bull market becomes 261 weeks young come March. The last time a bull market hit 261 weeks of age, we had the pivot high for an entire generation. Right now, the NDX assets has more than a 61% retracement of the entire drop in three days. That is a strong case for a low being in place in assistance. We already have housing stocks like LEN that have hit new relative highs.

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