Markets Under Pressure
Last Thursday we posted on Twitter to liquidate our long positions in SPY, XLE, VNQ, GE, XOM, and MSFT. Our Wyckoff Tools showed us an overbought market and one that was due for some type of pullback. Friday was a day of intense selling and so far today we have the same. Wyckoff Wave is currently trading at 36,269.
As Jim O’Brien has been discussing in all of his writings, we have been waiting for a more important test of the most recent lows. We are still waiting…