Momentum burst setups showing up
When you have set method and you follow them daily, you don't need to be rattled by market moves. With the market improving in last couple of days post Fed panicked and assured they will postpone QE if needed, that has resulted in another V shaped recovery in index.
The momentum burst scans I run have started to show up candidates. When market was in correction the scans were not showing many bullish candidates as momentum was on downside. During bull moves stock move in sharp momentum bursts of 3 to 5 days after that they rest or revert.
If this rally has legs same thing will happen. Stocks have started gaining momentum. They will in few days go sideways as buying cools on those individual names and then they setup for another move higher.
Sharp V shaped recoveries has been the hallmark of this market especially in last 18 months as Fed panics every time market goes in to correction mode of even 5%. They come out with new interventions or delay end of QE , and sometime just do verbal intervention like some Fed members dd this time once market starts correcting around 10%. That signals the market no matter what Fed will not allow market to go down. So happy days are back again.
During a bull move hundreds of momentum burst setups will show up if market continues its advance. So task for speculator is clear , scan for stocks with established momentum and look for those that are setting up for possible momentum burst and also run daily momentum burst scans and look for good setups.
If you did not lose money during this correction, you are in good shape to profit from this move as long as it lasts. If it fails then bearish setups will proliferate.
The momentum burst scans I run have started to show up candidates. When market was in correction the scans were not showing many bullish candidates as momentum was on downside. During bull moves stock move in sharp momentum bursts of 3 to 5 days after that they rest or revert.
If this rally has legs same thing will happen. Stocks have started gaining momentum. They will in few days go sideways as buying cools on those individual names and then they setup for another move higher.
Sharp V shaped recoveries has been the hallmark of this market especially in last 18 months as Fed panics every time market goes in to correction mode of even 5%. They come out with new interventions or delay end of QE , and sometime just do verbal intervention like some Fed members dd this time once market starts correcting around 10%. That signals the market no matter what Fed will not allow market to go down. So happy days are back again.
During a bull move hundreds of momentum burst setups will show up if market continues its advance. So task for speculator is clear , scan for stocks with established momentum and look for those that are setting up for possible momentum burst and also run daily momentum burst scans and look for good setups.
If you did not lose money during this correction, you are in good shape to profit from this move as long as it lasts. If it fails then bearish setups will proliferate.
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