Thread: MrJohnRoss' Account Talk

EOM and EOQ window dressing going on. Mr. Market is lurching back and forth. Perhaps we'll get another stair-step function. The S&P RSI is fair valued at 50. All other indicators are neutral, so there's no bias either upwards or downwards. $EMW looks slightly better, so just letting it ride.

Originally Posted by MrJohnRoss

$EMW looks slightly better, so just letting it ride.

You noticed that too? I'm not crazy after all! Even though price is a little lower today, momentum looks a little stronger.

Originally Posted by MrJohnRoss

EOM and EOQ window dressing going on. Mr. Market is lurching back and forth. Perhaps we'll get another stair-step function. The S&P RSI is fair valued at 50. All other indicators are neutral, so there's no bias either upwards or downwards. $EMW looks slightly better, so just letting it ride.

Agreed...and as long as the SnP closes at or above where we are now (2077ish) I think we are good for tomorrow.

Originally Posted by jpcavin

You noticed that too? I'm not crazy after all! Even though price is a little lower today, momentum looks a little stronger.

Originally Posted by Mcqlives

Agreed...and as long as the SnP closes at or above where we are now (2077ish) I think we are good for tomorrow.

Yes, it's nice to enter the month fully invested. That way, you can use your two IFT's to move to safety, back to equities, and still use your final emergency move to G if absolutely necessary.

Good morning. Nice to see the markets shake off the "bad" unemployment report. Bad news is usually good news for the markets, so the rebound was not unexpected. The biggest fly in the ointment that I see is the Transports, which continue to sag lower. That does not bode well for the markets in general. Eventually, the Industrials need to join the Transports, or vice-versa. They cannot diverge indefinitely.

The dollar is making a wave lower, which is helping commodities move higher. This should also help the I Fund gain some traction.

Staying long the S Fund, but the markets are a little shaky here. Keeping a wary eye on things to see how they play out over the next few days.

Shorts got burned today haha.

Originally Posted by sniper

Shorts got burned today haha.

Yeah, the market's on a tear. Bad news is good news.

Looks like AAPL is bouncing off of it's 50 DMA, and making a move to the upside. This should be good news for the future of the Dow, S&P, Nasdaq, and QQQ. Small caps are lagging a bit today.

The Trannies are up a bit today, but it sure doesn't look like a meaningful rally. And what's up with the R2K? Guess the small cap rally may be running out of steam. The first few months of the year are usually the strongest for small caps, so I'll need to look at the charts tonight to see if we're starting to rotate out of favor.

Updated chart of the NYSE. Rising wedge pattern is going to come to an end in the very near future. Will it finally break through that upper resistance line, or will it fail?


NYSE.png

I have the highest degree of confidence that I would like it to break the level and go up exponentially rather than fail.

Goo luck to us all.