Your Daily Bit of Wall Street Wit & Wisdom

NYSE Composite chart by KimbleChartingSolutions.com

by Steven Sarnoff

As you can see above, depicted on a nice NYSE monthly chart by Chris Kimble, the market is facing an important test of support (demand).

“The four most dangerous words in investing are, ‘This time it’s different.’”

— Sir John Templeton

In trading, it’s especially important to keep your emotions out of it and trade what you see.  Make a plan and use it.  Have the flexibility to listen to the message of the market, even if it’s not what you were expecting.

There is only probability, never certainty; but, indeed, patterns can be powerful.

Best regards,

Steve

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