I love it when a plan comes together.. if anyone acted on our suggestion Monday that a very short term Buy in the SPX at 1176 would be likely to see a a bounce to around 1200, just send me good thoughts! Now, it is time to unload that position.. it has given us all I think I want.
Tuesday on the close, the Vix generated a Buy signal, closing back inside the upper Bollinger. I think we also got a record in the Put/Call ratio....the "Smart Money Guys" would say that was a Bear signal. Ya' pays your money and ya' takes your chances!
For us, we still have our last Sell signal confirmation 11/12 at 1202.. and until we get a new Buy signal, we will stay with that position. While our Momentum Change signal is still signaling Sell, our Market Timing tools are suggesting that we should see a significant market peak next week, with a decline to follow that can be exciting. Those same timing tools also suggest an interruption in the advance of Gold and Silver markets next week.
No changes in any of our momentum signals at this time... but we will watch this activity today for any clues to a change.
Good Luck Trading!
Bill
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