Bonds have finally found a bid, and our Momentum Change indicators have generated a new Buy Signal in the TLT at 93.90. This Buy signal will complete the Sell issued 10/8 at 103.50, for a 9.6 point profit.
The Euro Trust, FXE, generated a Sell signal last week on Dec 12/15 at 132.42. The Dollar produced a Buy signal 12/15 at 80.35. The UUP is the ETF that most accurately tracks the dollar, which was recommended at 23.10.
The fact that our momentum change indicators now have both the dollar and the bond market in up swings, suggests that investors are beginning to think it is time to move back into a more safety oriented strategy. If that is the case, we should begin to see momentum flip in the SPX. We will be watching carefully for a change from our current Buy recommendation.
The SPY momentum Buy signal of 12/1 is still in effect.
Mr Market is pretty quiet today.. bonds up a little, dollar up a little, Euro down a little, gold up a little and oil up a little... yawn. Probably getting ready for Santa.
Best to your trading.
Bill
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