We didn't even go down - we went sideways - but the INDU Average True Range declined a bit to 133.66 and that is always good. What we are looking for is a steady decline with a steady rise in prices - nothing too violent because the slower it goes up the longer it lasts. Take what you will out of that - I've taken it as far as I'm going to go.
The model portfolio is at 6.74% and the benchmark is 2.03% - the model dropped .11% and the benchmark didn't move.
GOOG was back in play today - did a lovely return to 4, bounced off its pivot point and went past R1 on a lot of nice little moves. It even bounced off midpoint high along the way - if you can chart pivot points take a look at a classic on the 15-minute charts. MSFT took the day off and AAPL gained 8 cents - still a long way to go to get to 100 and it gets longer if its going to do it 8 cents at a clip.
I wish I could tell you that tomorrow was going to be better but I just don't see it - next week however should produce some nice gains again. It's the last week in the quarter and the 12000 funds have to get spiffy so the managers can get their quarterly bonuses - vacation time is coming.
The VIX is coming back to the line - 16% under today. Another day and it will probably make it back over the 10-period moving average. This guy remains overbought but we've been here before -
The up/down ratio is finally breathing a little easier at 45% which is a serious drop from the 70% where it was yesterday. If we could just get a turnaround on the NewMoMo for a day or two we might even set up nice for the end of next week.
I have to follow my instincts and the momentum chart and call tomorrow a down day.
The coin however is calling tomorrow ... heads - up again - once the coin gets an idea in its head its hard to shake it.
We have to call today another tie neither up nor down so the score now stands at Marlyn 21 - 17 and 7 and the coin is 22 - 18 and 7.
1 comment:
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