I had to amend Friday's blog in which I stated the Seven Sentinels went to a buy. In reviewing the 28 day trading high I managed to misread the chart. NYMO needs to reach 66.4 to flip the system back to a buy. It could still happen if buying pressure continues this week, but for now I have to retract my original call and point out that the SS are still on a sell. Here's the chart:
On August 2nd and 4th NYMO was sitting higher than where it sits currently. So we have a few more trading days to see this signal move above those levels. If that should happen this week and all signals remain on buys then the system will flip to a buy for the intermediate term.
On August 2nd and 4th NYMO was sitting higher than where it sits currently. So we have a few more trading days to see this signal move above those levels. If that should happen this week and all signals remain on buys then the system will flip to a buy for the intermediate term.
