7-7-15 comments
The IBD Market School Exposure model went into correction this morning. I suspect the IBD big picture column will do the same thing in tomorrow's paper. The buy switch has been on since October 21, 2014 so this is a significant event. The other measure I have had is the S&P500 trading above/below its 120 day ema. This has been a major support line in the past. It is now below and the S&P is treating the 120-day as resistance. The sell off looks like forced high volume selling to me probably pushed by margin calls.
I will be buying nothing in the coming period and selling positions if they look like they are failing. I sold SWKS this morning at a small profit. I also decided to take profits in AZPN. I still hold EPAM as it is acting well.
Mike Scott
Cloverdale, CA