The job of a market analyst is to predict top and bottom everyday. If you don't do that, you are not doing your job. What's worse - people try to predict top and bottom even when when market is literally sleeping, means doing nothing.
I am talking of S&P500. Here's what S&P500 has done over last 6 months...traded within a range of 4.4% from top to bottom. Remember, Chinese market now-a-days swing 8% intra-day.
As long as S&P500 trades within this range of 2040 on the downside and 2130 on the upside, one cannot make any directional guess. How difficult is it to say that index is trapped in a range and it's time to wait but no something has to be said...oh Index is forming a topping pattern or blah blah blah.
Trade the market for what it is, not what you want it to be. Ninety percent of the problem can be solved just by trusting your eyes and not corrupting it with your brain
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Disclaimer – The state of the market notes is Deepak’s perspective on the market. The column is purely for educational purpose. Nothing contained herein is a solicitation to trade or a recommendation of a specific trade. By reading this publication you agree to make no trade relying in whole or in part on the comments of the writers