There is no face-to-face meeting this week, as I will be traveling to Knoxville on Wednesday - Sunday. Please check the Yahoo! group poll and let me know the best dates for an electronic meeting, either next week or the following week.
- GGT volume seems to be returning, compared to the 50d MA. Last week we observed trading volume at -20%, -19%, -9%, -6%, and -2% on the day-over-day basis. I does appear that participants are rejoining the party, albeit slowly.
- The slopes of pricing moving averages are all bullish on time frames from 5d through 65d. This means that day-over-day and on multiple time frames you are making money in your accounts.
- Surprisingly to me, the price accumulator change oscillator moved DOWN on Friday to -14, it's lowest possible reading. This indicates that reward/risk levels are favorable for entry on the long side of the market for Monday.
- The short-term Long-Cash-Ratio Change timer, and it's sister the VTI timer, are both long and have been since 3/18. It's too late to chase this signal, so I would wait.
- The intermediate-termed Elder Force Index timer is long, and has been since 3/21, although it hit a rough patch on 3/22 and 3/23 and took some time to sort itself out. Overall, it is safer to purchase stocks on the long side -- shorting will just get you in trouble right now.
- The Long-Cash Ratio closed Friday over 2.0, the highest level since 2/18. This is bullish overall.
- The slopes of the Long-Cash Ratio moving averages are all bullish on time frames from 5d through 65d. The database is expanding in terms of the numbers of stocks with a long recommendation, and this is a much better time to buy stocks.
- A bit of a crack in the bull ice is simply that the strength oscillator is at 86.9% and indicates that fuel is running out. I wouldn't be at all surprised at some form of a pullback this week, but today probably isn't the day it will start.