Many websites and news channels will make us believe that its a raging bull market. And implying that its time to buy; more.
Are they not good at imprinting subtle messages to retail traders like us? If you did not notice, listen (or read) with attention next time you listen to a business ratio / TV station.
Coming back to the state of the current market.
We don't like to trust the news channel as primary source of reliable information that would help us make profit consistently.
It did not do so in the past; when we were naive ...
Instead we prefer to "see" for ourselves. With simple system. Without need to spend hours pouring over financial statements.
Our eyes don't lie. And Superior Profit traders come to trust their eyes and discount the comments and chatter and expert opinions in other websites and news channels.
What do we see now?
Firstly, we have started posting current market bias on the Home page. That shows market to be in clearly bullish and overbought state. So, to be clear, it is bull market at present. No doubt on that.
Doubt is over the implied connotation. That it may be time to buy more.
We, Superior Profit Traders, prefer to buy when market is at a low point. Getting valuable stocks at discount. Rather than trying to buy when it is at the top - like it is now.
And on top of that, the broad market ETFs are not showing a healthy state of bull market. See QQQ chart here - the story told by Superior Profit Toolbox is annotated.
What do you think? Is it time to buy? Or is it time to start booking profit. At minimum, to tighten stop on Long position? And look out for weak stocks to Short - may not be right now But may be soon?
Whatever you decide, trust your eyes. Analyze your stock through your reliable and trustworthy trading system. And go with what your system is telling you.
That may let you Trade Profitably faster and more often than you might think possible.
Citizen of Main Street.