There is really nothing to add this week; the retracement in prices that started two weeks ago after the 9 week rally, is still in play although, so far, it is of small proportion.
The price action on the markets over the last two weeks suggests that the weakness may be renewing and this may cause a sudden drop in share prices during the next week or two. On the other hand, if the buyers return to the market, the indices may start to recover and this could then provide ‘buy’ signals.
The markets are testing our patience but, as we have said before, there is no point in giving in to that desire to buy now if, as is quite possible, prices then turn turtle and end up causing more losses. Better to hang on and wait until we can be more or less certain of an uptrend setting in. That way we can all make profits and with less risk of loss.
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