Friday proved, in our opinion, that this market seems not quite ready to resume its uptrend. Will we get back to the January highs and potentially surpass them? Undoubtedly! Just not yet. In our opinion, this market is just in consolidation.
We mentioned in the past that this will likely lead up to the Italian election, as the geopolitical instability will prove cautionary for investors and traders. Are there still trading opportunities to be found? Most definitely!
Last week we wrote about relative strength – this has proved to be worth its words! AAPL is still outperforming the market and looks to be holding strong. Buying dips as we are bullish on this market in the long term seems to be a viable option.
Subscribers have been locking in profits in AAPL while having hedges on for no cost given our strategies.