Robots - April 24, 2012

There are two big headline risks for Wednesday’s trading with the reaction to AAPL’s earnings and the FOMC announcement. On Tuesday morning, the robots know nothing about these facts and moderating position sizes seems to be a wise decision.

The 20 DMF remains in short mode and the IWM robot is advising a secondary short entry today at a limit of 79.93, just below the confluence of Quarterly pivot (80.28) and Weekly pivot (80.21).

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The GDX robot was stopped out and the PM MF is now in short mode. However, the GDX robot found no edges for entering a short position today and it will wait in cash.

Today’s porosity is 0.157%. The PM MF needs to close above average MF + porosity or hit the oversold threshold at -1.45% for a RT and EOD model reversal to a long mode.

GDX is sitting on the double long term support of Yearly and Semester S1 (44.77) and this area has a good technical likelihood of becoming an intermediate bottom or the middle of a new consolidation.
Billy

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