A modest pullback was to be expected after the past few trading days. I'm watching for weakness, but I did have to allow for some consolidation and profit taking under the circumstances. All seven sentinel signals were on buys yesterday too, which I felt gave me some time to hold my position, even if only for a couple of days. Unfortunately, I have no option to sell until Thursday now given tomorrow is a holiday. But on the bright side, none of the signals flashed a sell today either, so time still seems to favor me.
I'm looking for another poke above 1100 on the S&P, and if it comes on another big rally I'll probably be selling into it. That would be the easy play, which means I probably won't get it.
So let's look at the charts:
No major damage done today, just a minor pullback. All still flashing buys.
TRIN spiked back up again, but is at it's 13 day ema and still on a buy. TRINQ and BPCOMPQ remain on buys as well.
Our top 25% remain very bullish. Note the higher I fund exposure going into today's trading.
So all seven signals remain on a buy and keep the system on a buy. I'm optimistic that we'll have another rally higher, but without the ability to trade until Thursday, it's possible the best opportunity to sell passes me by. But that remains to be seen. See you tomorrow.
I'm looking for another poke above 1100 on the S&P, and if it comes on another big rally I'll probably be selling into it. That would be the easy play, which means I probably won't get it.
So let's look at the charts:
No major damage done today, just a minor pullback. All still flashing buys.
TRIN spiked back up again, but is at it's 13 day ema and still on a buy. TRINQ and BPCOMPQ remain on buys as well.
Our top 25% remain very bullish. Note the higher I fund exposure going into today's trading.
So all seven signals remain on a buy and keep the system on a buy. I'm optimistic that we'll have another rally higher, but without the ability to trade until Thursday, it's possible the best opportunity to sell passes me by. But that remains to be seen. See you tomorrow.
