Home > Stock Market Strategy, Stock Market Timing > WALL STREET CRAPS STOCK MARKET STRATEGY APRIL 2, 2020

WALL STREET CRAPS STOCK MARKET STRATEGY APRIL 2, 2020

April 1st, 2020

craps front coverSTOCK MARKET STRATEGY FOR APRIL 2, 2020: The stock market made an internal bottom on March 23rd and rallied until March 30th. In the process of rallying, the general market became overbought and now is trending lower. It will likely take 3-5 trading days from here in order to become oversold. That means that a successful retest of the lows could occur early next week and be worth playing to the upside. But be careful……. let the oscillators become oversold and the volume to lighten up.

Key underlying short-term timing indicators show the following:

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THE BOTTOM LINE: The stock market made an internal low, bounced and is now in the process of retesting its March 23rd low. If a new closing low in the Dow Jones Industrial Average occurs without the majority of other major internal technical indicators confirming that action, we could be in store for a tradable bottom. Of course, this would likely occur in the face of obvious bad news. And as famed market technician, Walter Deemer, famously said, “When the time comes to buy, you won’t want to.”

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