Member
Posted 24 July 2020 - 11:29 AM
NYAD and SPX A/D line both were at new highs, both are useless for timing now,
just like at the Feb. highs.
NYSI still holding up for the IT, but that could change.
The 50/200 bullish cross is constructive longer term, AAII may not be useful for timing 10% corrections.
Member
Posted 24 July 2020 - 11:32 AM
Went to cash on all short term positions, neutral.
Member
Posted 24 July 2020 - 11:43 AM
Member
Posted 24 July 2020 - 12:04 PM
It is the new pattern of the last 2.5 years with grinding uptrends, and then elevator drops. High in Jan2018, elevator drop. higher high in Sept2018, then big drop. Higher high in April2019, then quick drop. Higher high in July2019, then quick drop. Just missed Higher high in Sept2019, and quick drop. Higher high in Jan 2020 and quick drop. Higher high in Feb2020, and massive drop. Good higher high in June2020 after consolidation in lateApril/earlyMay2020, and then quick drop. Higher high here in July2020, and starting to drop. Very nicely cycled with the dates mentioned around the Monthly expiries. If we continue to get a good drop here, look for higher highs in and around August 21st 2020 for the next long exit. Slightly below 3100 one day going forward would be a good guess to start accumulating again. Major market 10 emas are golden.
Member
Posted 24 July 2020 - 12:16 PM
The SPX AD line matters like a barometer on the wall matters. How many new ATHs this year matters. Staying above the Feb ATHs really matters......
It may be useful for 6 months out, but it can't save you from a 10-30% correction anymore, those days are gone.
