We continue to be big buyers on every dip. When a bullish market is in a persistent uptrend like we have seen over the past several weeks/months, overbought conditions occur. These are worked off by sharp and short-lived corrections like we are seeing. The SPX had a difficult time holding the breakout level of 1220 last week. So far, the pullback has been orderly, falling to its rising 20 day moving average. As long as price remains above our proprietary stop levels (SPX 1180-1200) levels as indicated in our attached chart, we will continue to be buyers on weakness. We still believe a rally into year-end is around the corner. Only a close below these levels will change our outlook. Keep an eye out for the financial sector as it looks poised for a move higher. Some stocks include MS, BAC, JPM and GS.
Due to increased demand and time constraints on our end, we have now suspended all new license requests for our software. We will let you know when more become available.
We appreciate all the emails requesting to be part of our subscription service. We now stand at 85 interested clients. If you are interested and have not yet contacted us, please do so at info@rampagetrading.com. Our team will be meeting soon to discuss our future plans.
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Thanks Rampage!
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