Tuesday, July 10, 2012

Composite going half long...

The JTS is finally covering its short position, although it is NOT going long yet. This is interesting that its not going long on a big down day in a healthy market. I'm not sure what to make of this except there may be more downside ahead. I mentioned SPX 1325 to 1330 should be strong gap support.

The CCI will maintain its long position. The fact that JTS is heading to the sidelines combined with CCI's long will put the JT Comp system half in the market today on the close.

Thanks!

3 comments:

  1. I'm leaning toward more downside -- though not necessarily tomorrow.

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  2. Because they tried running yesterday, then lost key support at 1345. The intraday turn-around should run more than just an afternoon. We are not at any really good support here (yet). The big move from 6/29 is likely to be erased completely before resumption to the upside....

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