There were 87 charts with multiple buy signals as of the last two trading days of the past two weeks. There were 55 with a second sell signal. But get this. Of those 55 sells, 30 were fixed income ETFs. Do you think that’s a sign? Non-subscribers click here for access.
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I do not. These income ETFs have been tightly rangebound in a flat range for months, with constant whipsaws. So it’s difficult to conclude that this is the big one. Non-subscribers click here for access.
Overall, I want to caution again that with the market racing back and forth in a range, it has been months since the system has produced a string of winners. Therefore, I would not rely on these numbers as a market signal. Non-subscribers click here for access.
Rangebound markets produce a preponderance of whipsaw signals, which is why I refer to them as meatgrinders. Eventually the market will break out and trend for a while. Until then, the string of small gains and losses is likely to continue. It’s a slow bleed that wears out both long and short traders. But it’s necessary to keep playing the game in order to catch the next big move when it comes. Non-subscribers click here for access.
Upon reviewing the charts with signals, I was surprised to find several buy setups that looked decent. I didn’t like any of the shorts. I added 7 buys to the list, to be tracked starting with today’s opening price. Non-subscribers click here for access.
My sentimental long pick in the last report was the second best performer. Non-subscribers click here for access.
With the 7 new buys, the list will have 11 longs and 4 shorts. The new picks are shown on the table below. I have adjusted or added stops on several of the existing picks. I’ve left the rest stopless to give them time to “ripen.” Non-subscribers click here for access.
Technical Trader subscribers click here to download the complete report.
