Tuesday morning update: covered half of my shorts 30 minutes into the trading day. I’m not going to fight this morning’s strength and will wait for EOD to see if signal changes.

Update: Shows you how much I’m with it….Markets were closed today.

I remain bearish per my timing system, but this market needs to break and if it has a big rally day tomorrow that will put this market call in question.

Below the video are a number of sectors that tend to do well when the markets are entering a bearish phase (like I believe we’re in now). When you see the Food Producers Index it’s very obvious that inflation is real and anybody who tells you it’s not isn’t firmly grounded in reality.

The canary in the coalmine could well be the transports (marine transportation index and airlines). While the markets could easily rise without the leadership from these sectors…just what is being said here with these indexes trading below their 200 moving average at a time when the overall markets are threatening to roll over.

Join me on this webinar next Monday at 4:30 est, where you’ll learn how to utilize multiple confluence points in the charts to improve your trading. It pays to know where resistance is.

“Prices, we know, will move either up or down according to the resistance they encounter” ~Livermore

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