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JTH

Chart Patterns: Update for the Complex Head & Shoulders

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Last week was a short week and as such I felt this would make for a decent pause in price. While the Transports did close flat, much to my dismay the other major indexes posted stronger gains. Still, my analysis is telling me this is a good time to sit on my hands until I feel a better buying opportunity comes along. As for systems, I have 1 that posted a buy for bonds on 7 July, and two others that posted a sell for stocks on 5&6 July. Either ways, at this point in time I'm not recommending a buy for anything, not bonds nor stocks.

288,000 New Jobs-cp007-png

288,000 New Jobs-cp008-png


Bottom line, if it ain't broke don't fix it. My systems & perspective are in agreement and I'm not likely to argue with what has been working for me. Take care and trade safe...Jason

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Comments

  1. jkenjohnson's Avatar
    Boy, I'm glad I did not get back in on Friday. Whew!
  2. JTH's Avatar
    You my friend are indeed right. At times patience can be a reward and this is certianly one of those times.

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