Perhaps it's anti-climactic. Perhaps it's yet to be realized salvation. But we haven't been invited to the party yet. No, the Seven Sentinels did not trigger a buy signal today. I thought they would if the market stayed strong, and it seemed to, but BPCOMPQ did not make up any ground from yesterday's signal. I think I'm relieved, as I don't feel good about this market right now. Sentiment is just not as bearish as it was in previous sell-offs. The fact that we did not get a signal may be telling us something. That something could be another push lower is coming soon.
Yes, we missed some nice gains the past two days, but what if we drop back down to make a lower low before the real buying kicks in? Would it have been worth the wait? After all, we only have two IFTs, and I for one would like to maximize their use. I am musing again, but it could turn out to the be true. We don't know yet, but it shouldn't be too long before we find out.
I've been skeptical of the quick rally this week. I was expecting it to come later rather than sooner. I wanted to see those gaps in the S&P get filled, but it didn't happen. Yet.
We did see some selling this afternoon that looked like it might lead to something more serious, but the market caught another bid and pushed back up off it's intraday swoon to end the trading day with healthy gains. So I'm still in wait and see mode. And I'm okay with that if it means a better entry point. Here's where we stand today:
All four here are still all on a buy from yesterday, obviously pushing further into buy territory.
TRIN and TRINQ also still flashing buys, but turning just a bit. You can see BPCOMPQ didn't make much of a change from yesterday and that's the sticking point.
Six buys and one sell keeps the system in sell mode.
I was planning on posting our Top 25% performance stats today, but I'm having problems opening my Excel program and may need to reload from disc to get it fixed. If I can do that quick enough I'll update this evening, otherwise it may have to wait till tomorrow.
Yes, we missed some nice gains the past two days, but what if we drop back down to make a lower low before the real buying kicks in? Would it have been worth the wait? After all, we only have two IFTs, and I for one would like to maximize their use. I am musing again, but it could turn out to the be true. We don't know yet, but it shouldn't be too long before we find out.
I've been skeptical of the quick rally this week. I was expecting it to come later rather than sooner. I wanted to see those gaps in the S&P get filled, but it didn't happen. Yet.
We did see some selling this afternoon that looked like it might lead to something more serious, but the market caught another bid and pushed back up off it's intraday swoon to end the trading day with healthy gains. So I'm still in wait and see mode. And I'm okay with that if it means a better entry point. Here's where we stand today:
All four here are still all on a buy from yesterday, obviously pushing further into buy territory.
TRIN and TRINQ also still flashing buys, but turning just a bit. You can see BPCOMPQ didn't make much of a change from yesterday and that's the sticking point.
Six buys and one sell keeps the system in sell mode.
I was planning on posting our Top 25% performance stats today, but I'm having problems opening my Excel program and may need to reload from disc to get it fixed. If I can do that quick enough I'll update this evening, otherwise it may have to wait till tomorrow.
