I'm back a little early so here's M3's signal for tomorrow. We're still in cash for now despite SPY and XIV making a little breakout rally this morning...and failing into the close. Surprisingly, XLU took a big hit today and I'm tempted to assume an opening Long at the 40 level based strictly on the technicals (that's just my idea...not a recommendation).
This is the longest period the model has been in cash all year but the recent day to day whipsaw have been avoided...which is a good thing. Why step in front of a moving train?
The pair signals (charts not shown) actually offer an encouraging argument for an approaching support bottom but we're not there yet. Meanwhile the Trend,X ALERT is bearish.
