Remember, I'm traveling today through Sunday in Knoxville. Blogs/analysis will occur as time permits. Due to my travels, there is NO face-to-face meeting this weekend. Please log into one of the GGT Yahoo! groups and answer the poll to which day(s) are best for you to participate in an evening presentation.
- The GGT price index rose +0.29% on volume that was -5% below the 50d average. << Yawn >>
- The slopes of the 5d through 65d pricing moving averages are all positive and they are pointing upward, which is bullish for our bank accounts.
- The Price Accumulator Oscillator moved from +4 to +6, indicating that we have more risk in the markets than the previous day by a slight amount. Of larger concern to me is that we're incrementally creeping up, and the longer we stay at incremental change levels, the greater the chance of a larger move either way increases. Since the oscillator is inching upwards, my hat is tipped towards a downside move, but of course, my crystal ball is as good as yours. +6 is right at that threshhold where you don't want to enter new longs and new contra/new short positions start to become more attractive. Remember, this is a SHORT-TERM (almost day-over-day) indicator.
- The stocks in the database are about 80% of their strongest levels in terms of pricing and volume. There still is room to move upward from here, e.g., there are a number of stocks that could move higher, causing this value to increase.
- The short-term Long-Cash-Ratio Change Timer is indecisive, and is holding at LONG-CASH (0). All it will take is one down day to trigger this to cash. Conversely, an up day will most likely move it back LONG (+1), resetting it. We're on the fence post with this one.
- The intermediate-termed Elder Force Index Timer is LONG. I intend to only purchase equities on the LONG side.
- The slopes of the 5d through 65d LCR moving averages are all positive and are pointing upward, indicating that the database is converting to LONG-rated stocks faster than the bears can convert to CASH. This too is bullish for our bank accounts, and indicates that we need to be on the long side of the market.