Market view

Markets did gap up nicely on Friday - but then consolidated a bit with a little minor pullback. I'm still heavy long markets right now as I think a big rally is underway. Look at this - over the recent few days markets has not been moving down , down , down - but rather consolidated in a choppy way (usually indicate a market bottom ) before we take off.

I see some great possibilities of a major rally starting early next week ( Probably Monday ) as the markets made a perfect inverted HS pattern with the right shoulder being in. This little inverted HS pattern targets near in the zone of 1290-1300 by early next week, where I think we will be going near term, before any pullback and then higher.

Remember there are so many bloggers out there , who dont even post their trades and so many bloggers out there who says "Yes - either we go up here , if not we go down here" Well - then they are always right , but I at least give you my own oppinion what I think is going to happend instead of saying 50% up or 50% down. This means that I'm not right all the time and also make mistakes , but I find it more usefull to share what I think is most likely to happend instead of telling either we go up to 1330 or we go down to 1230... that just make not much sense to me - and you dont find many other blogs out there who post their trades in the markets.

I'm still looking for 1320 area or 1330 by end of this month so its about to buy all the dips you can right now.

If you look at the small caps they are holding up way better than overall markets - which is very bullish. So not much to say - the conclusion is that we are consolidating at bottom here before a big rally early next week ( I think we get one Monday... but probably also Tuesday) so get ready imho.

Have a nice weekend everyone and enjoy.