Friday, June 3, 2011

Hold signal.

4:21pm: Very, very close to a buy signal. Actually, not just a buy signal but a strong one. I've shown stats on strong buy signals before, but I will update the stats this weekend. Had TNA finished .07 points lower at 76.79, a strong buy would've been generated. So while it doesn't quite qualify, it was close enough to review what has happened in the past following strong buys.

The system remains 50% long, and believe it or not is still healthy.

However, a dip below SPX 1294.70 or below 2706.50 on the Nasdaq would flip the market to "unhealthy" and I'd have to reconsider some things.

11:16am: Hold signal confirmed today. I expect a STRONG bounce next week. I'm not just saying that - I will show my reasoning over the weekend. Off to go boating w/ friends for the rest of the day. Happy Friday all.


  1. Double Bottom from last Wednesday on TNA

  2. Hammer being put in on the S&P futures if it holds today

  3. @ joe can you explain what "hammer" mean?

  4. Hammer failed on S&P futures. TNA back at support of $76.50. Bad economic numbers today.