I've been traveling all day today and I'm a bit worn out as a result. I'm not going to post my charts tonight, but I did take a quick look at them.
NAMO, NYMO, NAHL, and NYHL all turned back up a bit are are near their respective 6 day EMAs, but they all remain on sells. Any follow through tomorrow would probably flip them them all back to buys.
TRIN is on a buy, while TRINQ is just barely on a sell. They are neutral overall.
BPCOMPQ turned down a bit more today and is getting close to crossing through the lower bollinger band, which would flip it to a sell should it happen. But for now it remains on a buy.
Friday is OPEX and regardless of the action market character will not be clear. I would not be surprised with a bit more selling pressure, perhaps even another hard day down, but I'm not convinced this market is ready to roll over completely. Let's see how sentiment shapes up first. I've got the feeling our survey will be on a sell again for next week and that could be problematic, but I need to see how other surveys are looking too.
The Seven Sentinels continue to remain in an official sell condition.
NAMO, NYMO, NAHL, and NYHL all turned back up a bit are are near their respective 6 day EMAs, but they all remain on sells. Any follow through tomorrow would probably flip them them all back to buys.
TRIN is on a buy, while TRINQ is just barely on a sell. They are neutral overall.
BPCOMPQ turned down a bit more today and is getting close to crossing through the lower bollinger band, which would flip it to a sell should it happen. But for now it remains on a buy.
Friday is OPEX and regardless of the action market character will not be clear. I would not be surprised with a bit more selling pressure, perhaps even another hard day down, but I'm not convinced this market is ready to roll over completely. Let's see how sentiment shapes up first. I've got the feeling our survey will be on a sell again for next week and that could be problematic, but I need to see how other surveys are looking too.
The Seven Sentinels continue to remain in an official sell condition.
