It's that time again to ask the big question, is a correction imminent ? I think so, just look at the chart,it has gone ballistic the last 2 months and it is time for a breather and what better time to do that than in options expiry week which is the third Friday of the month. Will it be necessarily this week ? maybe,maybe not, but it is coming and it is inevitable but how much is the second big question.
My way of planning for this is watch the charts for any major interday highs then big down moves. This is called "Thinking Like a Hedge Fund". They have taken massive hits and they will waste no time bailing to take profits.
On the other hand there is alot of new money coming in that thinks it's the right time to get in and missed the big move up so they may absorb some of the selling but they will be just toe dipping in my opinion so beware of the big bear that this rally is most likely still part of. Some better news is out there than a month ago but when there is profit,there is selling. Keep on your toes.
