By Jeff Pierce

The markets continue to provide little opportunities to be long equities due to the fact there are no leaders and many stocks are also getting hit on earnings news. My stock scans each night have little worth reporting on and when you combine this with the fact my timing signal for Nasdaq and DJIA remain bearish it’s best to be on the sidelines or even short if you are an aggressive trader. The markets are likely to churn and go down further as we continue to put in a long term top.

The TSX has been the most resilient of the bunch as it’s still in a long term uptrend, but yesterday say it take a big step back per my timing signal. It will still take some aggressive selling to get this index to roll over so for now it’s too early to short Canadian stocks.

nasd

indu

tsx

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