market timing model: SELL Signal generated on close of Sept. 9 Last Friday’s breakdown generated a sell signal. One can still be long stocks that are holding up well. Note that the market timing model was not created to catch tops and bottoms in the S&P 500. The model was designed to keep our trades […]
market timing model: SELL Signal generated on close of Sept. 9 Last Friday’s breakdown generated a sell signal. One can still be long stocks that are holding up well. Note that the market timing model was not created to catch tops and bottoms in the S&P 500. The model was designed to keep our trades […]
market timing model: SELL Signal generated on close of Sept. 9 Last Friday’s breakdown generated a sell signal. One can still be long stocks that are holding up well. Note that the market timing model was not created to catch tops and bottoms in the S&P 500. The model was designed to keep our trades […]
market timing model: SELL Signal generated on close of Sept. 9 Last Friday’s breakdown generated a sell signal. One can still be long stocks that are holding up well. Note that the market timing model was not created to catch tops and bottoms in the S&P 500. The model was designed to keep our trades […]
market timing model: BUY Signal generated on close of July 7 Bull market rally. Long exposure can be in the 50 – 100% range or more depending on success of open positions. Note that the market timing model was not created to catch tops and bottoms in the S&P 500. The model was designed to […]
Wednesday’s heavy volume bearish engulfing candle on the daily chart of $SMH suggests that the current uptrend may need a few weeks of rest. If so, then $SMH could act as drag on the Nasdaq.
No trades were made on Tuesday, but we do have one new buy setup listed in Wednesday’s watchlist. The setup is a breakout entry over last week’s high in $ELLI, which has been in consolidation mode for several weeks since printing an ugly red candle in late July.
Late last week’s price action in the $SPY was pretty much by the book, with support coming in at $216 on Thursday, followed by stalling at $219 on Friday. Range-bound it remains.
With the market in chop mode, it is still vulnerable to selling, but we would expect any potential pullback to be short-lived given the support from the rising 50-day MAs.
The $SPY’s resilience has allowed the 10-week moving average to catch up to the price action, which increases the odds that the current correction will remain one that is more by time than price.