Rally rejected?

[grems8544]

Sideways choppy markets are death to intermediate term players.

Completely agree. There is no trend, and if we start one from here, then we're only on day 2 (at best). Plenty of time to sit back and see how the markets develop.

I have several intermediate timers that are giving weak signals. The Elder FI timer did move long with yesterday's action; this timer also whipsawed over the past two weeks. My 5d-65d timer on my "quality" GGT index is on the fringes of being long/short, but my Contra 3x ETF 5d-65d timer has moved LONG (barely).

Hardly a decisive market.

[adam ali]

In case you hadn't seen:

http://www.marketwatch.com/story/tra...=home_carousel

[ilonaross]

Hi, Mike.

You're the DJT maven. Is it significant in the slightest that the IBD charts have the RS as actually rising and that it closed today in the blue... yes, blue, altho price must have been infinitesimally close to yesterday's.... what part do this morning's numbers play?

It looks like on 6/13 the DJT led by one or two days, so would that be possible here?

We are so oversold, and it looks like only about 10% of Pascal's universe is in short wait mode, so gotta wonder.

Tnx in advance.

[ilonaross]

Okay, scratch that post altogether.

I checked the DJT again, also with IBD, and it's showing a much lower close. I think I was looking at the DJ Transportation Option index instead. Sorry.

[Pascal]

Hi, Mike.

You're the DJT maven. Is it significant in the slightest that the IBD charts have the RS as actually rising and that it closed today in the blue... yes, blue, altho price must have been infinitesimally close to yesterday's.... what part do this morning's numbers play?

It looks like on 6/13 the DJT led by one or two days, so would that be possible here?

We are so oversold, and it looks like only about 10% of Pascal's universe is in short wait mode, so gotta wonder.

Tnx in advance.

Ilona,


After a short signal has been issued, it is the number of sectors waiting for a long signal that will tell you how oversold the market is. Under that measure, we need to reach 50% to be really oversold.

Pascal

[ilonaross]

Tnx for the clarification.