Thursday, August 29, 2013

Momentum Improves, but Marginally...8.29.13

The markets put on another bullish day although momentum was muted and volume was thin.  Friday will be the last trading day of the month (75% Bullish) and the apparent delay in a US military response to the Syrian situation (and the possible consequences) gave a positive slant to the news.

GLD and SLV did go red today, a possible first step in a larger trend reversal so positions the the Hybrid model should be closely monitored and perhaps portions of any positions closed in order to protect recent gains.

Over in the default model the P6 is starting to look optimistic but a confirmation from the TrendX and the short term metrics would present a better case for a vested position in that model.
Friday's action is expected by characterized by more light volume and increased volatility ahead of the 3 day weekend.