Unique swing trading signals and stock market commentary.
Monday, July 9, 2012
Composite staying put...
There will be no signal changes today. Each system will hold their respective position, keeping the Composite parked in cash for at least one more day. See ya tomorrow!
I had a feeling the big gap up on 7/2 was going to fill before heading higher. Now that looks like a near certainty, especially considering the "volume vacuum" inside this gap. SPX 1325-30 should eventually provide strong support.
I should mention JTS is likely going to cover its short position, but probably won't go long yet. With CCI already long, this is going to move the JTComp half-long on the close.... that is assuming nothing changes in the next hour. I'll update in a bit. Thx.
I had a feeling the big gap up on 7/2 was going to fill before heading higher. Now that looks like a near certainty, especially considering the "volume vacuum" inside this gap. SPX 1325-30 should eventually provide strong support.
ReplyDeleteI should mention JTS is likely going to cover its short position, but probably won't go long yet. With CCI already long, this is going to move the JTComp half-long on the close.... that is assuming nothing changes in the next hour. I'll update in a bit. Thx.
ReplyDelete