After two down weeks in a row, we have now almost made up for those losses in the first three days of the third week, but today's action was anemic. The market is hitting resistance and appears poised to run out of steam. But this market has been tricky and the underlying strength impressive evey time it shows up. But looking at the Seven Sentinels I don't get the impression we are going to get that buy signal just yet. I am guessing we have some more work to do on the downside first.
Here's the charts:
These four signals are all still flashing buys, but lost their mometum today and could flip back to sell soon.
Same thing with TRIN and TRINQ. Still on a buy, but poised to flip. BPCOMPQ however is still on a sell, and is still showing weakness. The lower bollinger band is bending down lower and may help it achieve a positive crossing, but overall the system looks like it's ready to forgo a buy signal for the short term.
I am still having trouble with my computer and had to completely reload my OS this morning. That's the first time I've done that since I bought the computer over 6 years ago. It's running faster, but I have more work to do to get all my software and files up to snuff.
I can tell you that our top 25% are positioned in 14.09% cash and 84.09% stocks. Pretty bullish still. The charts may take a few more days, but I'm still compiling the data.
Here's the charts:
These four signals are all still flashing buys, but lost their mometum today and could flip back to sell soon.
Same thing with TRIN and TRINQ. Still on a buy, but poised to flip. BPCOMPQ however is still on a sell, and is still showing weakness. The lower bollinger band is bending down lower and may help it achieve a positive crossing, but overall the system looks like it's ready to forgo a buy signal for the short term.
I am still having trouble with my computer and had to completely reload my OS this morning. That's the first time I've done that since I bought the computer over 6 years ago. It's running faster, but I have more work to do to get all my software and files up to snuff.
I can tell you that our top 25% are positioned in 14.09% cash and 84.09% stocks. Pretty bullish still. The charts may take a few more days, but I'm still compiling the data.
