Based on my present emotional state, comments here, and the overall economy it seems that we are at a major juncture. This rally has been swift as we would expect from a Bear Market Rally. The community at SOH has grown, and continues to grow.
The chatter on the board is starting to seem as though there is increasing amount of fear or uncertainty in the air. The trend is obviously down, but in the short term anything can and will happen. At the end of the day we are responsible for our actions. If we follow like sheep then so be it, but we are responsible for taking such actions. Our trades are our own, and only that.
Economic conditions around the world continue to deteriorate, and with it social mood. I’m starting to sense people’s cortisol levels increasing as the clock keeps ticking. The media (which I tend to ignore) is chanting one thing, the inflation / deflation argument marches on, governments continue to bail out banks at the taxpayers peril, riots and protest are increasing, and with all of this comes social unrest.
Being that we are all living beings (most of us at least) we are connected to each other in unknown ways, and one is a collective level of awareness at least subconsciously about what is going on around us. While we may hope for the best and want things to improve, the facts say otherwise. While we may get a bounce to 800 on the SPX we may not… my Blue Light Special Crystal Ball broke a long time ago.
People want the markets to rise as a sign that things will get better, but show me what is getting better. We trade on TA here, which is supposed to ignore the fundamentals or at least not look at them too heavily. However, judging from the comments here today there is a social mood of uncertainty, fear, and restlessness.
I recommend that anyone feeling uneasy take a walk outside and think about what you are grateful for. We are living through extraordinary times. Hang in there and happy trading.
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