I'm heading back home tomorrow (Thursday) so this evening's post should be the last one this week without charts.
Today we got the weakness I was looking for, but the market closed well off the morning lows posting modest losses by the closing bell. I made a decision to enter the market at the close today going 50/50 CS. I may be early and we could dip lower again, but the Seven Sentinels continue to improve.
NAMO and NYMO both moved up a bit today and remain on a buy.
NAHL dipped slightly, but remained on a buy, while NYHL dropped back to a sell. Both signals are riding their 6 day EMAs and could flip either way depending the action.
TRIN moved back up towards its 13 day EMA, but remained on a buy, while TRINQ flipped to a sell.
BPCOMPQ actually turned higher today, while the lower bollinger band continued its decent. Both are close to crossing, which would trigger a buy signal if it happens.
So the Seven Sentinels continue to show improvement and could flip to a buy any day now, but this assumes we don't get a head fake. Technically, the system is still on a sell with 5 of 7 signals flashing buys. But the two hold-outs are not far from rolling over. It all depends on the action now.
That's it for this evening. I'm looking forward to putting up my charts again tomorrow. See you then.
Today we got the weakness I was looking for, but the market closed well off the morning lows posting modest losses by the closing bell. I made a decision to enter the market at the close today going 50/50 CS. I may be early and we could dip lower again, but the Seven Sentinels continue to improve.
NAMO and NYMO both moved up a bit today and remain on a buy.
NAHL dipped slightly, but remained on a buy, while NYHL dropped back to a sell. Both signals are riding their 6 day EMAs and could flip either way depending the action.
TRIN moved back up towards its 13 day EMA, but remained on a buy, while TRINQ flipped to a sell.
BPCOMPQ actually turned higher today, while the lower bollinger band continued its decent. Both are close to crossing, which would trigger a buy signal if it happens.
So the Seven Sentinels continue to show improvement and could flip to a buy any day now, but this assumes we don't get a head fake. Technically, the system is still on a sell with 5 of 7 signals flashing buys. But the two hold-outs are not far from rolling over. It all depends on the action now.
That's it for this evening. I'm looking forward to putting up my charts again tomorrow. See you then.
