etfmsolutions: Ponzo Updates as Buyers Kick In...03.28.17

Tuesday, March 28, 2017

Ponzo Updates as Buyers Kick In...03.28.17

We were looking for a rally based on yesterday's reversal action and today's action was solidly bullish with bonds, utilities and gold down and all the indices solidly in the green...although volume was muted. The current Ponzo forecasts mirror the bullish argument as it appears the buy the dip mentality is still active. And, TLT still looks like a solid momentum play despite the daily ominous warnings that bonds are crashing. Now we just have to check tomorrow's action for possible short covering backlash. In the short term, baring any new geo political crisis, (what happened to the imminent N.Korea and Chinese military threats?), it looks like relatively smooth sailing.

Commentary and Updates

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