<font color=red>The Indexes - Weekend Edition
Index Period - Last Weekend | This Weekend
Dow Weekly - Sell | Sell
Dow Daily - Sell | Sell
Nasdaq Weekly - Sell | Sell
Nasdaq Daily - Sell | Sell
TSE Weekly - Sell | Sell
TSE Daily - Sell | Sell
Gold Bugs Weekly - Buy | Buy
Gold Bugs Daily - Buy | Buy
Oil & Gas Weekly - Buy | Buy
Oil & Gas Daily - Buy | Hold
That was a wild week on the Oil & Gas front.
The Weekly chart fell to a hold intra-week, before easing back into a buy signal.
The Daily had two sharp moves that I would not have been able play (too unpredictable, for me). The Daily is now showing a hold signal because the +DI has crossed above the -DI line. That would be confirmation of a buy signal, if we had one. In this case, the price is still below the 20 day MA.
Please note; though we have had sell signals on the Dow, Nasdaq, and TSE300, for two weekends now, there may well be an opportunity that is not being signalled because of the distortion in the trends created by the cataclysmic events of September 11th. In my opinion, it will take some time for the trends to be properly reflected in the indicators I am using. It is certainly a time for caution, but it may well be a time of opportunity, too. It's just hard to know.
Last week, despite those sell signals;
the Dow was up 7.43%
the Nasdaq was up 5.31%
and the TSE300 was up 5.00%
For my part, I have decided to err on the cautious side.
I may well miss the early gains made if the market begins a sustained rally. I hope I have, in fact.
I'll wait for the signals.
The updating, annotated charts are available at
stockcharts.com
under Indexes Daily & Weekly - Ray Cushing.
If you do visit the list, please give it your vote.
Thanks.
Cush |
