I'm going to keep it short tonight. The charts haven't really changed a whole lot, but they still seem to suggest a short term bottom may be near.
But any attempt at a rally is stomped fairly quickly and that's why this is beginning to look like a bear market.
Here's the charts:
Still pointing down here.
Internal strength? Both NAHL and NYHL actually flipped to buys today. This is one of the reasons I'm thinking the oversold rally is still alive. Or maybe that's what we're supposed to think.
TRIN and TRINQ are on a sell. But TRINQ is oversold and suggests bounce coming.
BPCOMPQ looks to be trying to curl back up after today. This is another subtle sign that perhaps a more meaningful rally is yet to materialize.
So we have 5 of 7 signals on a sell, which keeps the system on a sell. Aside from the obvious bear market trading character of this market, the charts suggest at least a short term rally may still happen. The big question now though is can we string together some follow-through action to the upside?
Still 100% G here and just fine with that.
But any attempt at a rally is stomped fairly quickly and that's why this is beginning to look like a bear market.
Here's the charts:
Still pointing down here.
Internal strength? Both NAHL and NYHL actually flipped to buys today. This is one of the reasons I'm thinking the oversold rally is still alive. Or maybe that's what we're supposed to think.
TRIN and TRINQ are on a sell. But TRINQ is oversold and suggests bounce coming.
BPCOMPQ looks to be trying to curl back up after today. This is another subtle sign that perhaps a more meaningful rally is yet to materialize.
So we have 5 of 7 signals on a sell, which keeps the system on a sell. Aside from the obvious bear market trading character of this market, the charts suggest at least a short term rally may still happen. The big question now though is can we string together some follow-through action to the upside?
Still 100% G here and just fine with that.
