Monday, July 16, 2012
blog post note that there may be more room to run. The MRSI module has just triggered LONG signals in the Qs and SPY, which are designed to be executed at the end of the day. It's premature to enter right now...we need to confirm the signals are holding EOD.
20 minutes before the close and the NYAD has been deteriorating for the last hour. Market volume is thin (ca. 50% normalcy) on the indices as a sideline positions build. Looking for the Big Break after today's .70 range day.
Recommend delaying entry on MRSI signal Longs until we have better confirmation such as a bullish XLF.
The VIXEN module has no new signals as the equity/bond skew remains intact.