Not much of an update today...Still expecting a bounce..Configuration on charts remains the same...Not uploading charts today coz theres not much change from last week..We are at the lower end of the channel...Still expecting a bounce...One thing here I will say...Many ppl I know are expecting a bounce to 5000 area....Rarely does the market satisfy everyone...I see a couple of possibilities...
1. Market does not get to 5040 area at all...Instead stalls at around 4960-4980 area and goes back down.
2. Market goes above 5040 and screws all the bears...
Kinda favouring 1st scenario for now...We might even get to 5040 which was my initial target..lets see...
I am also preparing my shopping list for longer term stock picks...Will post thoughts about this later...My idea is to pick them on the next decline which should come soon...
Have a good trading day.
Best.
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