First Signs Of Weakness - January 18, 2012

I’d like to have some fresh comments to make on the IWM robot setup but nothing has changed. The opening gap reversed instantly without hitting the short limit entry and the day was very weak. Altogether, this action cancels somehow the almost mirror inverse strong action last Friday. It is coherent with the current neutral mode of the 20 DMF and yesterday’s weakness was in line with the robot’s ST/Lt settings edge for shorting short term strength. This is encouraging if today’s short limit entry of 77.52 could be hit whereas the market seems to be tiring a lot here. The 20 DMF is very close of issuing a short signal.

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GDX closed poorly where it started the new year and sits now at the bottom of a clear sideways trading range. Either it bounces back up from here on good money flow or it falters and the GDX robot would be quick to issue a short signal since it is 1.2 day away from triggering. No edge was found for entering a new position today.
Billy

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