Yesterday, the 20DMF did not show any sign that the market would reverse up or continue down. Therefore, without market direction, we have the sectors/stocks patterns and most importantly the coming earnings to guide us to the next quarter's direction.
With China/Japan supporting the Euro zone (it is always good if you want to continue exporting), we might expect a technical bounce on the Euro. I do not see this bounce shaping up in the currencies EV patterns though.
One bounce that is shaping up is still in the PM miners. This gold sector is 0.9 days (less than one trading day) from issuing a buy signal. IAG, ABX, GOLD, AEM, TRE seem interesting. I bought GOLD at a higher price about one week ago and could buy IAG and/or AEM today if the PM sector goes well by mid-day... But also knowing that a bounce might be short-lived.
In the oil sands, IMO and CNQ look interesting. The only concern is that energy has been weak in general and that the oil sands sector is about to issue a short signal as we can see in the list below
Sectors signals
I would also advise to have a look at the triple play filter. these are stocks that on last quarter issued positive guidance, increased both earnings and revenues. Those that attract money before earnings could be good buys.
http://www.effectivevolume.eu/content/Filters/Three.php
