As I wrote in my March 2017 dividend report in an outlook that the market is on crossroads of either going higher or staying on the downward path, today’s trading showed us we are heading down.
Although the intra-day trading was quite impressive (see below) when the market could recover almost all losses, it wasn’t able to to move higher and break the downtrend line (see blue arrows above).
Until this changes, we have a problem. Well, this depends on the point of view. As a dividend investor I welcome a price drop as I will be buying cheap stocks. As an options trader I do not care as long as I can manage my strangles.
Let’s see what Tuesday brings in.