According to these Weekly charts, the next two days are critical for the Intermediate trend of the market.
The chart above is a Weekly DJIA chart, showing a Sell signal two weeks ago, reversed to an interim Buy signal this week, confirmed only if the DJIA closes the week above 8755.68.
The chart above is a Weekly Russell 2000 chart, showing a Sell signal two weeks ago, reversed to an interim Buy signal this week, confirmed only if the Russell 2000 closes the week above 528.50.
The chart above is a Weekly SPY chart, showing a Sell signal two weeks ago, reversed to an interim Buy signal this week, confirmed only if the SPY closes the week above 94.89.
A
5 comments:
Transports almost confirmed, dollar carry trade in effect, Lowry's not seeing buyers, COT says commercials are net short, outflows from mutual funds.
It's a bodice-ripper!
Good morning Allan:
Today's thoughts on SRSR?
Greed is good except when it turns around and bites me in the arss.
Dave
Echoing Dan's comments - predictions on SRSR? It's at 19 cents now. Is it a sell?
Re: SRSR
Clearly in a Wave 3 UP, no hurry to exit, this is the kind of thing we thrive on, let it play out. I have projections to $0.43 on Advanced GET EW count.
That said, if you have a double here (and you should, minimum) taking some off the table is prudent money management if you are into that sort of thing. (But there is no TA analysis supportive of this, it's pure money management.)
A
>MAYBE THE MOST IMPORTANT OBSERVATION YOU CAN MAKE IS NOTICING HOW FEW TIMES PRICES TRIGGER AND THEN PULL BACK AND DON'T CAUSE A NEW SIGNAL. IN MY EXPERIENCE, MAYBE ONE OUT OF 10 BARS WILL GIVE A FALSE ALARM. MAYBE EVEN ONE OUT OF 20 BARS. IT IS JUST NOT THE PROBLEM IT AT FIRST SEEMS TO BE.
...a glorious morning for trading the trend.
-Mike
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