CCI has moved below zero which is unofficially a solid buy signal when the 21day MA is above zero. However, the JTS refuses to offer a buy signal again today, so the JTComposite System will remain just half long TNA. Despite this, I added to my long position on today's intraday dip as I am expecting a bounce in the coming days. Evidence is mounting. Thanks for reading...
-J
Thx JT! Love these pre 3:45pm posts, whichever way they come out, eons of time to position in accordance. "Thanks for reading!" LOL
ReplyDeleteThanks for posting. Reading is the easy part.
:) Thanks.
DeleteNot to anthropomorphize it too much, but, as the system's father, can you explain why the JTS isn't issuing a buy signal?
ReplyDeleteMy best guess is the system is expecting to see at least a little panic selling. It's not seeing it, so it's not going long yet.
Deletewhy
ReplyDeleteIs the "why" addressed to me? If so, because I'm curious.
ReplyDeleteThanks, J... I started accumulating longs today, and will continue scaling in on any weakness now. Bears tried taking the mkt down, but were unsuccessful today, so I expect the bulls to win and rally some time over the next week or so. Good for swing longs to start here -- and lower.
ReplyDeleteJTS is currently giving a strong buy signal... 11am ET 7/12
ReplyDeleteThanks J for the update, going Long here intraday. We filled the Gap to 1325, target 1380-85.
ReplyDeleteIf the market continues to rise today, would the JTS continue to give its strong buy signal? In other words, is there any chance that it might revert to holding cash?
ReplyDeleteIt may as long as we don't finish too strong. It has a big cushion right now though... otoh, if we start to eat into that gap down area, it might go away.
ReplyDeleteStrong buy signal is gone. We're barely hanging on to the regular buy signal at this point. Right now, kicking myself for not adding more longs this morning. I even have a sticky note stuck here on my laptop that I wrote a few days ago. It says... "Go VERY long on the 7/2 gap fill...even if you don't want to!"
ReplyDeleteSo much for that... maybe we'll tank again this afternoon.
Oops, I meant 6/29 gap fill.
DeleteOh well. I'm doing some of the same kicking.
ReplyDeleteCan you tell by looking at the JTS what it would take to invalidate the buy signal altogether?
Dow 12500 should give support, Looking for Dow 13000, I guess still time to go long. This market still has one leg up remaing before we tank in early August as per me. Thanks J for keeping the signals coming well in time for great trades.
ReplyDelete