The NT indicator gave a confirmed buy signal on yesterday's close, so I'm just going to wait it out, I can only update the NT data when the markets are open... two things, first of all the NT is only a temporary near term indicator, so we could see a pop today before a resumption of the selling, presuming the selling does resume... typically, we should see a rally the next day or one very soon thereafter, the NT means the market is very over sold and the selling has dried up enough to begin some buying... the same in reverse for a NT sell signal... secondly, the NT is not the main model, that model is still short although the market did come to reasonable support and rallied, then the NT was triggered... so, there's a better than 50/50 chance that we should see some kind of rally today... it could fail, it could rally, or it could also be the bottom and we begin to rally in earnest during the normal trading hours... I'm willing to give it a chance and see... I'm also long gold and silver and I'm just holding there also...
I think once the tax selling is over for 2012, we should see some market relief, and the fiscal cliff thing could be partially resolved today, just maybe...
GZ |
