*****This week could test the market's resilience and drive. Traditionally it's the week that schools start once again but also there is the first fall and last summer holiday weekend before Thanksgiving. A holiday that allows families to catch the last rays of sunshine before fall sets in. Focus will be mostly on schools and travel.
Geo- political events may also impact markets although my experience is that the markets are relatively numb, or dumb depending on ones point of view, resulting in mostly a "ho-hum" and "on with the show" attitude.
Nothing in short of an earthquake, but not even that in my opinion, seem to get this market off its rising path. Which is where most advisors will tell you to pay attention. My "old" saying that: "When most people are in the parade it's time to become a spectator", pops into my head.
Yet the trajectories in the charts still show the possibility of further highs in the indexes. So it may be a slow burn, which can be the most dangerous, remembering the frog in slowly rising hot water scenario.
Watching out for the tighter daily highs and lows maybe one of the best signals, and so would a profit taking indication but what I feel is that many have trouble departing or taking profits because they fear they're leaving the markets too early. It's what many call greed, but truly as one who's been there, it does become a dilemma. My best solution for it is to take some off the markets because profits are never real until spendable and in the bank.
So here is how I see the markets for the week ahead:
Happy Trading, Living and Dancing
Anni
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