Hello MarketClub members everywhere. Like the other 84 million Americans, I watched the presidential debate and I have to say it was as boring as watching an uneventful Super Bowl. The interesting thing is the next day the stock market had a very healthy bounce. I don't think there is one particular event you can point to that caused the bounce, but nonetheless, it was a bounce.
The question is, should you buy stocks now? The answer will be if you are long-term trader it may be a good time to be a buyer. On the other hand, if you're an intermediate or shorter-term trader it would be best to wait for a green weekly Trade Triangle in the Dow or the S&P 500 to be a buyer of stocks in those indices. The NASDAQ is a different kettle of fish as that is clearly in a strong upward trend.
Let's begin by looking at the major indices and see what they're doing trend wise. Continue reading "The Big Non-Event"