After sinking in the morning the market rallied back to close near it's high on Friday. This is a positive. Additionally, our bottoming indicator, which we call a Bingo (grey colored vertical line), is telling us that the market may now bounce back for a few days. I will take some small equity positions for a short term hold. I will monitor them carefully as we are still in a downtrend.
(Click on charts for
easier viewing.)
(Then click the
large white X in the upper right corner to return to the blog)
NASDAQ Composite Index
 |
| The grey colored vertical stripes are our bottoming indicator at work. We call this indicator a "Bingo". The market may have put in a short term bottom. |
This
blog post does not constitute an offer of investment advice. This blog is only
provided for educational purposes. Please read the Important Blog Disclosure
posted in the right channel bar.
No comments:
Post a Comment