Market Review: Europe Ruffles The Market

Did we really think that  after the excitement of the European Central Bank riding to Europe's rescue a few weeks ago that everything would smooth over and Europe's problems would be completely solved.  On top of that we loved that the Fed was ready to "QE" for a third time, however we are now second guessing QE3?  And you can't really tell me that the riots in Athens and in Spain were completely unexpected.

This is kind of typical of markets recently because of  the volatile era that we live in. Unfortunately markets  have obstacles and the current ones that are in play, at least over the last two weeks, after a very good September, are the challenges in Europe and is QE3 a good policy. 

If we put on our trader glasses and look at this objectively its pretty simple, support, trend line or other wise has not been broken.  We still remain in an uptrend and I believe that traders are looking to buy the bounce if the right kind of information comes out.  Like jobs improving or consumer sentiment, or anything that can move the market higher. 

So as traders there is nothing to be worried about ever! We just need to focus on price levels, and as far as what I am seeing there is nothing, yet, that has changed my mind to tell me this trend has changed.  When the trend does change then I will change with it, but as far as I'm concerned I am still bullish on the market.