Week of June 5

Start of a new bull or blow off top?

Recap of last weeks action:

We crushed it last week, again.

We sold off 60 pts in a straight line right from the market open after the long weekend. To be honest, in trading that’s all you need. One big winner makes your entire week if you don’t do anything stupid. After that, about mid week when all were calling for the crash, I sent this warning.

With time and experience you should and will be able to tell between big downtrends, and just minor retracements within an uptrend. This was the former, and I warned my followers against shorting with leverage until we hit that key resistance point. We banked another 40 pts on an easy trend day up as soon as I sent my tweet. No drawdown whatsoever.

Next move for markets?