Very bearish and very oversold - Market Roundup 22nd Mar 2020
Channel: Trading Profitably
Date: 2020-03-22

Very bearish and very oversold - Market Roundup 22nd Mar 2020.

I had shared a few possible buying opportunities in the previous market roundup. You could exit most, if not all, of those long trades with a profit despite the market falling this week. That was made possible by buying only the strongest stocks in terms of both fundamentals and technicals. You may revisit those stocks from my previous roundup video.

The market continued its fall this week. Now the market is very bearish and also very oversold. It is risky to take shorts in such an oversold market. And it is too bearish to take longs.

Several CUE indicators are showing that a reversal is likely from these levels. However, until I have a proper CUE long trade setup, I will not like to jump in and start buying stocks. The CUE Global compound scans are also not revealing any bottom-fishing opportunity. 

It is probably best to wait and see where the market goes before deciding the next swing trade.

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