Market review (26/12-29/12)
“When you make a profit, you have to plan the sale and determine the profit.” -Mark.Mivernivi
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A quick recap of the last week of 2023:
$.NDX.US$ Divided weekly and distributed on Friday;
Basic sync, DJI>SPX>NDX.
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NDX and SPX weekly charts: 9 weeks of continuous rise at the same time, still overbought, there is very little to do here.
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Based on the experiences of Michael.Burry in June 2023 (entering the market more than 1 month early and shorting) and Mark.Minervini (recently shorted DJI, the small stop loss should have been out), I think I will continue to stand still and rest and observe. Currently, with 64.4% cash, there is nothing I can do, waiting for the market to act before responding. (More precisely, waiting for those stocks to respond to their actions)
AAII and FEAR&GREED INDEX are still hovering near extreme values, and we will continue to monitor changes over the next 2-3 weeks.
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“Letting the power of the market tell you where to put your money, rather than your personal opinion, is rarely a good substitute for market wisdom. Opinions are meaningless compared to market decisions.” -Mark.Mivervini
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Ondo : According to my observations, mining stocks are also moving along with IWM and BTC. If the two go up at the same time, they will follow a major trend
, but the decline generally seems to be more related to IWM's move?
sTone83 OP Ondo : There is some correlation, but risk still needs to be put first, and traders need to be patient and wait for the settings to appear![slightly_smiling_face 🙂](https://static.moomoo.com/nnq/emoji/static/image/img-apple-64/1f642.png)
Ondo sTone83 OP : AAOI MARA CVNA AFRM in '23 was all about reversals of dilemmas. What do you think in '24 is like this
sTone83 OP Ondo : You need stocks to come out step by step; “I think” is meaningless![slightly_smiling_face 🙂](https://static.moomoo.com/nnq/emoji/static/image/img-apple-64/1f642.png)