Out!

On Wednesday it seemed the market might be breaking out to higher highs as we headed towards the end of the quarter, but yesterday's market activity cast renewed doubt that a continued breakout was in the cards. And now today's trading threw cold water on that notion all together as the Seven Sentinels rolled over to a sell condition.

Take a look:



NAMO and NYMO are now moving back towards negative territory. Both are in a sell condition.



NAHL and NYHL are also flashing sells.



TRIN remained on a sell, but TRINQ rolled over from a buy yesterday to a sell today.



And there it is. See that little red mark poking out past the upper bollinger band? That's sell signal number seven.

So the stars are aligned once again with all seven signals flashing sells simultaneously, which flips the system to a sell condition.

I'll be updating the Top 15 and Top 50 later this weekend. See you then.

 

[grandma]

...that would mean those who got out today beat bigger loss for Monday?
This vote coming up Sunday couldn't have been written in d/t: in reality there is only speculation on both sides, am I correct?

 

[ContrarianJeff]

Thanks CH--I find your tracking of these SS buy and sell signals to be extremely helpful. The data from SentimenTrader indicates that the drawdown probably won't be too severe or prolonged--just a week or so and only a few percentage points. But the BPCOMPQ looks like it could roll over for a few weeks. Any thoughts on when we might get our next SS buy signal?

 

[coolhand]

...that would mean those who got out today beat bigger loss for Monday?
This vote coming up Sunday couldn't have been written in d/t: in reality there is only speculation on both sides, am I correct?

I don't know about Monday, but it's certainly possible the selling continues. As far as the HC debate, I don't think any vote, regardless of outcome, is the focus of the market. At least not yet. It's probably going to be batted back and forth between the House and Senate now.

But this piece of legislation is certainly capable of moving the market in one direction or the other depending on the final outcome.

 

[coolhand]

Thanks CH--I find your tracking of these SS buy and sell signals to be extremely helpful. The data from SentimenTrader indicates that the drawdown probably won't be too severe or prolonged--just a week or so and only a few percentage points. But the BPCOMPQ looks like it could roll over for a few weeks. Any thoughts on when we might get our next SS buy signal?

Normally, a sell or buy signal is good for the Intermediate Term. That's roughly 2 months, but I'd only call that an average. I'm not quite as optimistic as SentimentTrader at the moment, but we'll see.

 

[merlin]

They claim that Greece is the fault of the market failure to respond.

 

[JimmyJoe]

The monthly sentimental survey bar chart indicates the rest of the month is down the tubes. Coupled with the HC bill, well, I'm out for Monday till April. We made some nice gains for March any way.:cheesy: