Timing, Real,not Mad Money
As this day progresses it does not appear that a optimum sell level will be reached, (S&P 500 Index at 926, just under last Friday’s high would be optimum) so we are waiting.
If you want to wait and not be early, watch the China FXI ETF. On June 1 it broke out above the important 36.24 level and moved up to a recent high of 40.76 on 6/11. Then it sold off to 35.33 and closed at 35.81 on 6/23, below the important 36.24 level. I believe that was an important sell signal. Now we have a knee jerk bounce to 38.40. Bottom-line, a close below 35.33, when it occurs, will be all the confirmation you need that the market is headed lower. A vast number of investors are treating China like it has some magic bullet, maybe a copper bullet with all the copper they have been buying. That might be a push, because China lives off the US and their best investment over the next six years will probably be U.S. T-Bonds.
12:27 PM CDT