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The Chartman

The Bull Market Isn’t Over Yet

By The Chartman FOXBusiness

The conventional wisdom I’m hearing is that the Alibaba (BABA) IPO signaled a top. Something about market exuberance. Or valuation. Or some such story the bears are always clinging to.

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Now, I will admit the past week was rough at times, but all that really happened is that the market dropped back to September lows before bouncing. I’m neither perma-bear, nor bull, but I don’t think the end of the market is here yet.

I was bullish on Apple (AAPL) a few weeks ago, and I guess if you were nimble you could have grabbed it for a 5% gain. That might have been too clever, though, so if you waited, good for you. I’d avoid it for now.

Coca-Cola (KO) has been topsy-turvy, but it’s coming back. A close over current resistance will mark a good buying opportunity.

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Back next week to celebrate – egads! – the beginning of October.

What do you think?

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