So after my initial market forecast on the Dow the other day that it would trend higher, I received a lot of emails asking me for last night's Dow direction. As you can see from the email conversation when I received it at 18 hours ago which was about 1:20pm yesterday afternoon, this time round, my answer to him at 7:21pm in the evening was probably yes and not yes. I wasn't that confident last night but however based on my personal experience and analysis, if I really need to choose, I expect a reaction from Dow because of the mad buy up the day before and indeed the Dow was sold down in the end.
http://stockmarketmindgames.blogspot.sg/2014/03/dow-jones-green.html
Usually after a mad buy up from the retailers, the market is expected have a reaction as the BBs would use this as an alibi and an opportunity to take profits. That was my reasoning and so far my K Mind have not failed me much after all these years of trading and answering direction queries.
Ronald K - Market Psychologist - The Big Speculator
