Since my buy signal 2 days back, the market has rallied nicely. The daily CCI on the SPX moved above the 100 line today. This is where the rubber meets the road. This is where the price acceleration takes place. But then, this is also the place where the price failures happen. Since my system (or any other system for that matter) is built on the premise of beleiving the signals and not on anticipating the signal failures, i would give the benefit of doubt to price acceleration here, with stops just under today's lows at 1280.
There seems to be no dearth of liquidity in the marketplace. Both the daily and weekly cumulative A/D line on NYSE are at new highs today. It's just a matter of time the price will !
http://stockcharts.com/gallery/?$NYAD
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment