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5th trading of March
SPX, 65% winning ratio with .19% average returns
R2K, 60% winning ratio with .13% average returns
AGG, 64% winning ratio with .09% average returns
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Fridays are the 2nd worst day of the week
SPX, 36% winning ratio with -.20% average returns
R2K, 36% winning ratio with -.22% average returns
AGG, 73% winning ratio with .07% average returns
Watching the 20-Feb tail. For the week, SPX & Tran is down, while W4500 & NDX are up, now that's a mixed bag!
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AGG, Daily
Low volume trickle up and stuck between key levels. Bonds appearing to be waiting on confirmation of a direction from the major indexes. The PnF & Renko charts, are in a downtrend.
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SPX, Daily
I'm watching the 2085 tail from 20-Feb if it gets breached then I think we should test the 2034-2063 levels.
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W4500, Daily
I'm watching the 1087 tail from 20-Feb if it gets breached then I think we should test the 1081-1082 levels. Watch for a close below the 1-2 trendline.
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Transports, Daily
The 8994 20-Feb tail has been breached twice, but volume is low
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NASDAQ 100, Daily
Still the strongest index, volume has declined over the past 3 days
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There are times when volume dries up and it spells the end of the rally, while other times volume ramps up and it escalates the downslide in prices. This market is doing an excellent job of keeping its cards "close to the vest" We know the NASDAQ 100 lead this rally, the question then becomes will it lead us back down, or has the Transportation index been leading us down over the past 7 days. Sometimes the Transports will give us a false signal, and at this time, I believe this to be the case. Against my better judgment, I think prices are consolidating and we will move higher before ultimately moving lower. How high is the question and if it's worth expending an IFT is the bigger question…
I honestly don't care if I'm right or wrong, only how I manage the position…Jason
5th trading of March
SPX, 65% winning ratio with .19% average returns
R2K, 60% winning ratio with .13% average returns
AGG, 64% winning ratio with .09% average returns
___
Fridays are the 2nd worst day of the week
SPX, 36% winning ratio with -.20% average returns
R2K, 36% winning ratio with -.22% average returns
AGG, 73% winning ratio with .07% average returns
Watching the 20-Feb tail. For the week, SPX & Tran is down, while W4500 & NDX are up, now that's a mixed bag!
___
AGG, Daily
Low volume trickle up and stuck between key levels. Bonds appearing to be waiting on confirmation of a direction from the major indexes. The PnF & Renko charts, are in a downtrend.
___
SPX, Daily
I'm watching the 2085 tail from 20-Feb if it gets breached then I think we should test the 2034-2063 levels.
___
W4500, Daily
I'm watching the 1087 tail from 20-Feb if it gets breached then I think we should test the 1081-1082 levels. Watch for a close below the 1-2 trendline.
___
Transports, Daily
The 8994 20-Feb tail has been breached twice, but volume is low
___
NASDAQ 100, Daily
Still the strongest index, volume has declined over the past 3 days
___
There are times when volume dries up and it spells the end of the rally, while other times volume ramps up and it escalates the downslide in prices. This market is doing an excellent job of keeping its cards "close to the vest" We know the NASDAQ 100 lead this rally, the question then becomes will it lead us back down, or has the Transportation index been leading us down over the past 7 days. Sometimes the Transports will give us a false signal, and at this time, I believe this to be the case. Against my better judgment, I think prices are consolidating and we will move higher before ultimately moving lower. How high is the question and if it's worth expending an IFT is the bigger question…
I honestly don't care if I'm right or wrong, only how I manage the position…Jason
