Holding Pattern

I'm going to go straight to the charts tonight as nothing happened this trading day to change my outlook.



NAMO and NYMO both remain on sells, but are very close to their respective EMAs.



More evidence of bullish internal action today as the A/D line remains bullish in spite of early weakness today.



TRIN and TRINQ are very close to flipping back to buys.



BPCOMPQ remains on a buy.

So we still have a buy signal in force and I remain convinced that it's just a matter of time before we breakout to the upside once again. I haven't put the tracker charts together yet, but I'm very interested in seeing how the stock/cash allocation looks for the total tracker. See you this weekend.

 

[airlift]

CH,
Thanks for posting, I am still holding 100S. Have a great weekend.

 

[Boghie]

CH,

Nice read on the patterns. I think you are correct, but I think the growth period will be very short. And, the potential for a crazy August/September dump is always there.

 

[coolhand]

I'm expecting a sell-off in that timeframe. It may not be your average, run-of-mill, garden variety sell-off either.

CH,

Nice read on the patterns. I think you are correct, but I think the growth period will be very short. And, the potential for a crazy August/September dump is always there.