The screens generated far more sells than buys last week, needless to say. There were 133 final sell signals and just 17 buys. Of those 17, 17 were fixed income ETFs. Time for a little countertrend rally in bonds?
I reviewed all of the charts on the sell side. Many of the charts had been in extended declines, but there were plenty more with new short term sell signals that looked enticing. I chose 7 to add to the list as shorts this week. Since they got hammered on Friday and this morning’s open is looking weak, I will track them based on the average price of this morning’s open and Wednesday’s opening print. This would assume a half entry now, and the other half Wednesday morning. Purely arbitrary SWAG for the entry price. No stops yet. Non-subscribers click here for access.
Table of picks and performance in the subscriber report. Non-subscribers click here for access.
The strategy and tactics opinions expressed in this report illustrate one particular approach to trading. No representation is made that it is the best approach, or even suitable for any particular investor. This is a developmental and experimental exercise, for the purpose of providing experienced chart traders with ideas and concepts to use or not use as they see fit.
Nothing in this report is meant as individual investment advice and you should not construe it as such. These picks are illustrative and theoretical.
The public facing report is not the complete report. Only subscribers have access to the full report and regular tracking of the theoretical picks and closeouts made in the reports.