the (dia) looks to be basing. It has huge volume recently and recently has dried up. It looks like the market is trying to go into an uptrend. What are your thoughts on this?
My thought is that in order to accumulate more smart money need another sell-off. I really expect this to happen this week (next week thee latest) If market will rise on monday morning on diminishing volume I'm going to short it. On the other hand there are toooooo much money being poured lately in treasuries (check out yelds) and also YEN has tested it's October lows while DOW didn't. These two factors make think that we might just dip a bit but not nearly as low as two weeks ago.
might have to wait till after the holidays for your prolonged dip, but then again maybe not. I hear interest rates will be going douwn to mid 4's by then. that may spur another little bull trend