Thank you, Mark! Also, Iblayz, for your input.
You are welcome dowdeva. Here is an update on my short term signals that really amount to more of the same.
QQQ – Buy signal generated on today’s close.
NDX – Buy signal generated on today’s close. That’s right……today. And it would take quite a move down tomorrow to negate the signal.
Nasdaq – Lower midrange cross to green on today’s close. Close to what I define as a buy signal. All things considered (like the above two) probably will function similar to a buy signal.
SPX – Signal line has been red for seven days and the sell signal was generated at a very high level….so high as to make it unreliable from my experience. In those seven days the SPX cash index has GAINED 3.17 points. There is NO other way to spin this than it is bullish.
OEX – Red seven of the last eight trading days. Sell signal generated at a very high level much like its cousin the SPX. Has lost only 2.79 points since the last green day. Once again, there is no other spin available……see SPX comment.
SOX – Red for the last six days. And, even after some hard selling, the SOX has GAINED 4.4 points since its last green day (although it did finish yesterday down over 22 from the same point.
RUT – Only two Red days out of the last twelve. An incredible run of thirteen straight days with my baseline closing above 800. Today closed just a hair below 927……a number in an area that tends to limit short term upside AND downside as the move is digested.
NYA – Red for eight consecutive days. UP 77.52 points during those eight days. Only One way to spin that
DOW – Five straight days Red. Up 71.88 points since the last green day. Once again, only ONE way to spin that.
Wilshire 5000 – Red five straight days and seven of the last eight. UP 64.71 points since the last red day. Getting to be a broken record…..isn’t it (regarding the spin).
BKX – Red three straight days. Up 1.51 points since the last green day. Bullish again.
A lot of the crosses from green to red were at very high levels. Most were at levels that make it unreliable to call them legitimate sell signals (from my experience).