Lots of Opp's on the horizon...

Well it seems 3-10 times a year I find that opportunity abounds. I simply do my scans and I see a common denominator. Its true that the markets down and its also true that after the recent rally we can't be sure if we are correcting for a larger move down or will the next move down be a correction for resuming our past bullish trend.

I might guess what I THINK is going to happen, but I wouldn't bet on it, so like you I will use my wits to identify potential positions for the now.

Here's what I'm finding. As you know the market has recently rallied rather nicely. So we need to understand that 1 of 2 things will soon happen.

1.) This is a correction for a longer term bearish market. (The recent rally is a correction.) or
2.) This is the beginning of the market resuming the bullish trend.

If #2 was true then we should expect a correction before the move up, and if #1 is true then the market should move down as well.

Either way, very soon if not immediately we should get a move down.

That said I'm bearish.

Does that make sense ?

Two good examples are QCOM and FDG

QCOM is at resistance and in an industry that's way down.
FDG - is way over extended to the upside from the recent rally.

I believe I will look for these 2 types of conditions tomorrow.

Ill let you know what I find.