Dow Jones: Reflections Of A Bear
I don’t like being . I’m an optimist by nature and like to see things rising. It also says something about my journey as a trader, as I started investing in 2008, at the feet of the financial crash, so I’m used to buying dips and riding upwards.
Yet, I find bear opportunities plentiful in forex – EURUSD , GBPUSD , AUDUSD . I’m also like Gold , Silver , Copper and others. I’m Emerging Market funds, such as EEM , the London housing bubble via SVS, and of course, cryptocurrencies BTCUSD , ETHUSD , LTCUSD and so on.
With so much bear bias, it leaves me questioning my bearishness in equities. But when I see potential formations in DAX , for example, and other technical formations that threaten downside breaks, such as the Nikkei and EuroStoxx, it’s difficult not to bring a bias to US equities.
Yet, for now, the market is telling us it wants to move higher. The dip last week was well bought, producing a further rally. We could be looking at a further consolidation for a few months, before moving higher. I do not see a reason to short this market. Only a sustained move below support would shift my bias.