The market is extremely overbought. All the indicators I follow suggest some consolidation or more likely a pullback. During bull runs the market can stay overbought longer than most people think, but not when it's at an extreme level as it is now. Buyers will get scared and start to sell and take some profit at some point. My feeling is that will happen today or tomorrow.
I expect by Friday we'll be slightly down, .5% - 1%, or possibly break even. This would actually be a good thing as it will allow the market to reset. It will give everyone a chance to catch their breath. We'll then watch to see if more buyers step in to keep this bull running.
On another subject, I continue to test and fine tune the MTT strategy. The goal is to make it as simple as possible. When I'm done, I should be able to explain it to my 6 year old daughter and have her understand it.
It's going to be a fun year! I feel confident that this will be a big year no matter which direction the market turns. We'll follow the MTT and play what it tells us.
I have some big ideas for this site in the upcoming months. Look forward to some big news soon.
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