Have you ever been on a commercial flight where the plane is about to land, but the pilot puts in full power and takes off again? In aviation it is said that the only thing more exciting than flying is landing. When looking to land, there could be any number of issues that make it “exciting,” including unexpected weather around the airport, nasty crosswinds, wind shear, an animal on the runway, and, the most frequent, something just doesn’t feel right. Frankly, I have experienced all the above since learning to fly seven years ago. If conditions as you approach the runway don’t feel right, the most dangerous reaction a pilot can have is, “I got this no problem.” When things don’t look or feel right, the right thing to do is called a “go around.” This is where the pilot decides not to land, overflies the airport, and reassesses the situation to make the safest decision. The multiple ramps and retests of the October 29 low in the equity markets continue to warrant a “go around,” and offer an opportunity to assess the bottoming process and our two rally requirement indicators that suggest the next leg higher has begun.
Sign up to access the rest of this content!
This content is not available to free users. Sign up for a paid account to access the rest of this content.