Bill: Well, to each his own. I am not calling a bear market. I never do. I just do trend following. My proprietary mid/long term Ney MACDXOSC gave sell signals on the Dow Trans and Utilities in April and sell signals on the Dow Industrials, Composite and NYSE, NASDQ, RUT and S&P 500 in May.
This was followed by my Sht MACSOSC giving sell signals on all during the week of July 20th.
Hey, all except Utilities are below their 200 day SMA. And, Trans and Rut 200 days SMA turned down 2/3 weeks ago.
The hold out is the Utilities and if memory servers me correctly, I believe it was last to move below in 87.
I will not try and call the bottom, I will just follow it up when it finds its own bottom. For now, everything is still pointing down. Would have expected a rally by now. Maybe the guru's are right and one is coming Monday. The S&P 500 broke its 200 day SMA this week. If it moves back above during a rally, that should pull a lot of dipsters back in.
I would say we are ripe for a rally! But, I am not betting on it and will not try to "play" it! Still in cash, day trading only, for now!
BWDIK
Regards,
LG |
