After my market timing signal went bullish on the 14th, it appears the smart move would have been to accumulate positions (in either ETF’s or individual market leaders)  but it didn’t really play out that way. I got shaken out of the markets yesterday but did manage to pull some gains out of the QQQQ’s and a few minor long positions.  After getting whipsawed I got back long today and today’s strength for the moment seems to have negated yesterdays weakness.

The charts below illustrate a few encouraging signs but these most likely are the bullish divergences for most of the July move higher. We need to have more follow through days to prove we have the ability to reach the June highs. I have my bull hat on right now but that can change daily with the volatility in these markets.

A few nice charts are ISLN OVTI CPX RBCN.

naud

ndx

[ad#co-1]

5 Responses to “Bulls Have an Edge”

  1. Abdul Rahim Says:

    The Bull appear on the cover page, very striking, nice colors. I keep looking at it.

  2. Merc Says:

    Nice charts — thanks.

    Lack of breadth may also an issue be as the small caps are lagging a little.

    http://stockcharts.com/h-sc/ui?s=$RUT&p=D&b=5&g=0&id=p14348882463

  3. Abdul Rahim Says:

    Christian of perfectstockalert.com still trying to find reasons for his bear market analysis. It’s always easy to be bearish most of the time than bullish quarter the time. I think the market have already digested all the bad news past months and wanted to just go up with just few good news around, even if it has to be happy news like George Clooney win his case in Milan or Lindsay Lohan release from jail.

  4. Abdul Rahim Says:

    "Having a cognitive bias is a very dangerous in this game". Jeff man, you are grooming yourself to be market guru. I hope one day, you compiled all your charts and analysis reports etc. and come out somekind of book or charts encyclopedia based on your trading strategies and observation given certain situation of time.

Leave a Reply

You must be logged in to post a comment.