4 replies to this topic

[NAV]

SPX - Uptrend (Buy the dips mode)

NDX/QQQ - Neutral (Stay in cash)

 

Although i beleive the Nasdaq has topped based on 9/6 action, i do not have a concrete intermediate term sell signal on Nasdaq yet. Will post, when i get one. For now, better to stay away from this index.

 

Note, these are intermediate term trends i am talking about, not short term signals.

 

To me, the proxy for the world markets is SPX. Until that breaks, bears should not get too excited. Sectors like Tech and Financials cannot be proxy for the overall market. Yes, sometimes they do lead. Sometimes, it could just be a case of sectoral rotation.

[fib_1618]

Although i believe the Nasdaq has topped based on 9/6 action, i do not have a concrete intermediate term sell signal on Nasdaq yet. 

 

Yep...it's only a corrective sequence at this time.

 

Fib

[pedro]

In full agreement.

[trioderob]

same thing could be said about China

[fib_1618]

same thing could be said about China

 

If you're talking the decline from 2015 into 2016, THAT was a bear market.

 

The difference coming with the underlying trend of money flow...with China it was moving out and into other markets...currently we're just digesting, rotating, consolidating.

 

Fib