The XAO had a strong week this week but remains in a trading range. Last week, I said that there was plenty of evidence that the market was at a short-term bottom. That played out perfectly this week.
So, what now? If this was late-October or early-November, Id be inclined to say No Guts, No Glory, we're at the start of a medium-term bull market. But its early September.
There's not much evidence, yet, that this market is topping other than some over-bought readings and strong resistances ahead. But, as a mythical Sage said, over-bought can get more over-boughter. So, there may be a bit more in this. It's now a matter of going with the flow. The trend is up, I'll stay with the trend until it turns around.
There's a lot of fear in the market regarding the month of September, which is traditionally the worst month of the year. It doesn't have to be. But it does suggest that one should keep the finger hovering over the sell button and use it on any break lower.
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