Today is an excellent example of how my timing signal over-rides the emotional aspect of my trading. When I saw the futures I thought my signal would flip back to bearish today but so far it’s holding steady despite the choppiness and bearish move today. There are a lot of mixed signs out there and a strong case for the markets to make a strong move up and down but as long as my signal is bullish I’ll continue to hold my SPY trade. I think the afternoon rally really helped the bull case in the short term.

Focus on the miners has been a theme since last week and there continues to be a number of charts in that sector I like from a momentum perspective.

 

4 Responses to “Timing Signal Stays Bullish During Rebound”

  1. Lioncub Says:

    As expected, markets moved up to close from opening but PMs didn’t play as expected.Surely Gold and silver falling on a Tuesday is not a good sign. I will wait until Thursday evening to offload all my silver and gold positions as I expect PMs and market to go down on Friday. (Or may be i should see the openings on Friday morning and decide to hold PMs for one more day??, just thinking loud). I see a negative divergence in volume, MFI and RSI for gold.

  2. jeff pierce Says:

    GOLD and SILVER are really weak in the futures.

  3. Lioncub Says:

    🙂 I offloaded all my gold and silver 2 hours ago. (I am in India now and had physical metal with me). I confirmed with my commodity broker (before selling) that these metals are showing signs of weakness and are going to fall..

  4. Lioncub Says:

    It is +245 on Dow now, I am expecting a little correction for the next two hours (or at least for the next 90 mins).

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