Well, the volatility is certainly back. This time thanks to bail-out rumors in the EU, which are being denied in some pockets, but probably have some merit in any event.
NAMO and NYMO are well within buy territory after today's action.
NAHL had little movement today, but is on a buy (barely) NYHL also didn't move much, but is flashing a sell (barely).
TRIN and TRINQ both flipped back to buys.
BPCOMPQ remained on a sell, but looks to be turning. Today it was flat.
The market has appeared to be going through a bottoming process for a few trading days now, and chances are a buying opportunity is getting close. The Seven Sentinels are flashing 5 of 7 signals in buy territory, but BPCOMPQ will be the toughest one to turn.
It is possible that we have as good an entry as we're going to get on this correction, but that would be front-running the system. Follow through tomorrow would probably put NYHL in buy territory, but BPCOMPQ may not be ready to roll over yet. Of course that depends on how much buying pressure presents itself.
On the flip side, if we reverse again some of the signals will flip right back over to sells. It's a tough call without seeing how the action plays out first. The caution flag is still out, but getting back into stocks for a short term play is looking more promising at the moment. See you tomorrow.
NAMO and NYMO are well within buy territory after today's action.
NAHL had little movement today, but is on a buy (barely) NYHL also didn't move much, but is flashing a sell (barely).
TRIN and TRINQ both flipped back to buys.
BPCOMPQ remained on a sell, but looks to be turning. Today it was flat.
The market has appeared to be going through a bottoming process for a few trading days now, and chances are a buying opportunity is getting close. The Seven Sentinels are flashing 5 of 7 signals in buy territory, but BPCOMPQ will be the toughest one to turn.
It is possible that we have as good an entry as we're going to get on this correction, but that would be front-running the system. Follow through tomorrow would probably put NYHL in buy territory, but BPCOMPQ may not be ready to roll over yet. Of course that depends on how much buying pressure presents itself.
On the flip side, if we reverse again some of the signals will flip right back over to sells. It's a tough call without seeing how the action plays out first. The caution flag is still out, but getting back into stocks for a short term play is looking more promising at the moment. See you tomorrow.
