I'm going to go straight to the charts tonight.
As expected, given today's rally, both NAMO and NYMO moved back to buys.
Same with NAHL and NYHL.
Same with TRIN and TRINQ too.
BPCOMPQ remains on a sell, but came close to a buy. This keeps the system on a sell. I do not know where the 28 day highs/lows are for NYMO at the moment, but we're on a sell regardless. This volatility is not going to go away, and I continue to take last week's action as a sign that this market is trending down. It's just too easy for the big money to move prices in such low volume trade. That's a prescription for false signals and I intend on avoiding them.
See you tomorrow.
As expected, given today's rally, both NAMO and NYMO moved back to buys.
Same with NAHL and NYHL.
Same with TRIN and TRINQ too.
BPCOMPQ remains on a sell, but came close to a buy. This keeps the system on a sell. I do not know where the 28 day highs/lows are for NYMO at the moment, but we're on a sell regardless. This volatility is not going to go away, and I continue to take last week's action as a sign that this market is trending down. It's just too easy for the big money to move prices in such low volume trade. That's a prescription for false signals and I intend on avoiding them.
See you tomorrow.
