Had short-term sell signals across the board for Wednesday and the market went up. Marginally.
This bull is trending so hard, it hard to get even two down days in a rows, happens but it is hard. Especially when long-term breadth is rising. For the most part one want to be on the same side as long-term breadth.
For today, both Price and Short-term breadth (see the red circle on the chart below), have again given buy signal so the market should go up. “Should” is not a word that has been that predictable these days either on the long side or the short side although the long side has the edge.
Note: RIOT, the wild and crazy stock featured in yesterday’s timing post, did do what it was “supposed” to do, which was to go down — from 28 to 23.
SWING TRADING SIGNALS:
LONG-TERM BREADTH: Buy (Day 1).
PRICE: Buy. (Day 1).
SHORT-TERM BREADTH: Buy. (Day 1).
VOLATILITY: Sell, (Day 2).
SPY CLOSE – 266.75
QQQ CLOSE – 155.99
CNN MONEY’S FEAR AND GREED INDEX: (67, rising, greed level).
NIFTY-50 STOCK LIST: 27 Buys; 6 Overbought, 3 Oversold, 4 new buys today, 4 new sells.