Avoid the chop

A long due correction of 8 % plus is happening .  Markets were going up for almost 2 years without a 10% correction. Now we are in the midst of one.

Currently market in holding pattern in volatile range.   This volatile range can break to either side, but based on underlying setups showing up in my scans , it as of now looks like we might breakout to the upside. Before that the recent low might be undercut to shake out weak hands. 
Some signs of buying appearing in biotech and other stocks in recent days.
Market is setting up for possible last quarter rally.
At this stage playing conservatively is key. If you protect capital good buy opportunity might be ahead.
Avoid the chop.

No comments: