any index/etf that did not break below yesterdays close this mornings will generate a sell signal when it breaks below its LOD prices so set stops for ST positions there and be careful.
also any index/etf that did turn red this morning (ie NDX) . . .will also generate a sell signal at a higher level when it breaks the previous days closing level again which of course is higher than todays LOD.
in the ST the (intraday) THRUST model reached an level worthy of a bounce before the close yesterday..although i expected a retest and thought it would come from a gap down to then bounce.. it actually opened HIGH after a gap up to
set a short term top and reason for a pullback intraday. yesterday i thought we would see strength into the end of week.. but the ST THRUST model which saw two down days coming is moving UPward today as it should
however meanwhile its trending oscillator is into the 3rd day of a bearish trend reversal.
the trending oscillator has been bullish for a couple of weeks so this turn of the last 3 days is a significant change that tells me we can start to sell the RIPs when the
THRUST moves to a slightly or extremely overbought condition as it opened at today .
IF we do see this recent momentum produce another UpDay tomorrow, a couple of indicators for the THRUST model are pointing to a RARE Down Friday.
..more later
Edited by Mr Dev, 05 November 2014 - 11:39 AM.
