Remember that successful investing is not about guessing at bottoms, but about identifying meaningful trends in stocks, so the difference between anyone who guessed at a bottom on Tuesday and anyone who guessed at a bottom on Wednesday is simple luck. With markets so oversold, a bounce in China was bound to come eventually, and of course this leads to a similar reaction in our markets. One can simply be patient and watch to see how things develop from here as stocks potentially try to set up again.
Market Lab Report - Premarket Pulse 7/9/15
|Published:||9 Jul 2015 12:40 ET|
Major averages fell yesterday on lower volume, some of this due to a four-hour NYSE trading halt, with both the S&P 500 and DJIA once again closing below their respective 200-day moving averages. The issues in Greece remain pending. China's markets rocketed higher though this could amount to nothing more than a dead cat bounce as the Chinese government attempts to artificially prop up its markets. With heightened news driven volatility, gaps higher or lower at the open are the norm, so for now, the sidelines are not a bad place to be.
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