Hi, Bob: The Naz CI's bottomed out very close to 0 last week, and have since reversed to the upside, so that's a buy signal. The S&P CI's have reversed to the upside, too -- another buy signal.
The S&P ones never bottomed out in the LT at or near 0, so there's the danger of a pullback, for a real capitulation. Some support levels weren't hit, and there are some ominous looking H&S charts, too. The S&P, if it did pull back, could drag down the Naz. But for now, there's a green light -- buy signals. Things can change quickly, though. I've been posting the signals on a mail list, each day.
In short, I'm long -- for now.
That is a problem for EOD trading, with those signals in the last minute. One has to be quick in that last minute, if possible, or guess sometimes, I suppose -- or find another possible later entry if the trend is at all lasting -- a big if. Or, if you're trading funds, maybe go with a tracking stock instead. Not sure. I know I've given up trying to enter exactly at reversal signals.
Brooke |
