I'm gonna say it one more time, then I'll leave y'all alone.Because I truly believe that Friday's signal will likely prove to be our most important signal of this entire year and because the implications of this signal for many traders could be extremely important, I've decided to make available here at Fearless Forecasters Thursday night's article from SevenSentinels.com about the developing set up for an imminent sell signal - the awaited signal which in fact subsequently materialized on Friday. If you want to read the full article, I've opened it and made it available here. For any who want to see Friday's signal or our weekend comments, there is a free trial link at bottom of page.
The full article can be read here. In celebration of our one year anniversary we are offering, on a once only basis, a two-week free trial AND 90-day discounted intro as indicated at bottom of this page. Very best of trading to all! DonOn Friday May 13, 2011 we had what I consider to be one of the most important Seven Sentinels Sell Signals of the last couple of years. To me, trading is all about TREND, i.e. CONTEXT, and that becomes the overriding operative ingredient for EVERY trading decision.
Yesterday we had a TRIN close of 2.24, and those kinds of closing readings generally lead to some rebound. In an IT uptrend, that kind of reading would provide a great entry for longs. But in an IT downtrend, as I read this, all it does is give us some fuel to try to rebound, while the market works off the very short term oversold. And that's how I see today - a relief rally in a downtrend.
I strongly suspect that after the relief rally runs it's course over coming hours that there could very well be "hell to pay" - and that the rest of the week "could" get bloody. We'll see. Just my trading thoughts here, fwiw.
Best of trades, all, D
