Where Next?

Where are we going?

Well i do believe we are in bottom territory probably like everyone else. We need a bit more consolidation to set the tone for rest of the year. But why do I think this? Well, I was reading an article by Jeff Cooper over the weekend and this is what a market historian had to say:

Market historians know the history of the markets and the Fed. According to Ned Davis Research, the Fed has embarked on an easing cycle 21 times since it was founded in 1913.
On 17 of those 21 occasions, the first rate cut marked a market bottom. The second cut marked a bottom on three of the remaining four occasions. Even on the fourth occasion,
which was November 1929, the market rallied until April 1930, before dropping until 1932, when the Fed finally cut rates again.

There is a bit more but I believe the above is very important as well as the technical view.

Hi, Calypso

First, I would like to welcome you to trade2win, and hope to see you in the chat room. Second,I agree with your statement and let's hope the second rate cut come sooner then later.