Reloading

It was a relatively quiet trading day today and the market took the opportunity to digest recent gains and begin to alleviate an overbought condition.

The July Consumer Confidence Index came in at 50.4, which was well below the 61.0 that had been expected, but for the most part the market didn't have a strong reaction to this bit of data.

In my view it was a good day, as we needed to reestablish support at higher levels by doing some backing and filling. I don't think this will last long though as many traders who got left behind the initial rally will probably view this modest weakness as a buying opportunity.

Here's today's charts:



Still on buys here.



Same here.



TRIN remained on a buy, while TRINQ flipped to a sell.



BPCOMPQ ebbed a bit higher today and remains on a buy.

So we have 6 of 7 signals on a buy, which keeps the system on a buy.

Not much to add here. Today's action did not diminish what appears to be a bullish picture moving forward. See you tomorrow.

 

[JTH]

CH, I'm not if you've been trading trade for trade with the system, do you happen to know what the YTD returns are under TSP conditions?

 

[coolhand]

CH, I'm not if you've been trading trade for trade with the system, do you happen to know what the YTD returns are under TSP conditions?

Off the top, no. And I need some time to research that, assuming it's not too difficult to backtrack.

I'd also have to assume we had the trades to match it, and we didn't.

The other problem is the lag time between buy and sell signals, and our ability to execute a trade.

 

[JTH]

Perhaps next year Tom may let you add the SS to the tracker, so it could be tracked seperatly from your account.