Market Timing - posted at 1125 EST
Swing trade - 100% long positions; stop for all positions to SPX 1290.
Investor core - 100% long positions; stop for all positions to SPX 1290.
What has not happened is new lows being confirmed, giving us an indication that we are wrong. The predicted turn today at the noon locus was precisely called for as the retail buyers became exhausted.
Yesterday and today are good examples of what the equity markets next few weeks and months will be like. Yesterday, the retail public bought for about two hours and ignored the opening gap. Then held for two hours. Then sold for two hours. Then finally this morning, the last of the selling ended didn't it.
Without a gap today, the indexes may make upward progress that lasts longer than a few hours.
While many readers are familiar with this pattern, some are not. It deserves mention for that reason.
We are taking a new direction at this blog. We should be ready to share that by tomorrow. We want to improve and progress.
The delay in our posts this morning -
We found but could not kill a virus. It hides under a variety of names. Vundo is the named version we have been cleaning today. It required two freeware programs and technical help to be rid of it. Here is a starting reference: Vundo
Good Trading and God bless
W. B. Busin
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