New Forecast

New Forecast Corona Del Mar, CA   Howdy Chris!   We finally had a down month, and the bears are out in full force on Twitter.   While I don't put money on these sort of studies, it's fascinating how everyday folk have been wrong about their assumptions.   At first it was "too far too fast." Now it's "this dip confirms a new bear market. Party is over."   Isn't this the same crowd that said Bitcoin only goes up after the halving? As if markets don't anticipate.   Here's some actual analysis of what happens after 5 up months in a row and one down month over the past 100 years: Clearly this is not bearish. Quite the opposite for 6 months on average unless I'm seeing things.   A so called "CMT" even took this pattern and came to the conclusion that since this was the "worst" down month after 5 up months in a row, we're going to decline.   First of all, April 1936 was the worst down month at -7.7%. Here's what happened next: Once again, an assumption was proven wrong.   Why does this keep happening?   People are lazy. They'd rather just assume things than put in a bit of work. Even the so-called professionals.   That's my only conclusion because I did this simple research in Chat-4 within 5 minutes.   There were some crappy earnings reports after the close. If you forced me to guess, I'd say it'll be a buying opportunity across the board.   I just stick with the strategies and just occasionally pop in to see what the masses are doing -- so I don't do anything resembling what they are talking about.   (No drawing on charts, no waves, no support/resistance, no Fed watching, zero care about economic numbers, most definitely don't care about the Yen, what comes out of Yellen's mouth, sentiment, etc, etc, etc).   Follow us on Twitter for more frequent updates. It's still censored, but not like the rest: https://twitter.com/PortfolioBoss   Trade smart,   Dan "Prince of Proof" Murphy                                 Portfolio Boss, Inc. 260 Newport Center Dr, Suite 100 Newport Beach, CA 92660   Don't want to stay in the loop with Dan? We'll be sad to see you go, but you can unsub to no longer receive emails.