Tuesday, September 30, 2014

Tuesday, Sept 30th Close Update

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Timer Status:

Short-term Timer:  CASH
Intermediate-term Timer:  CASH
Long-term Timer:  CASH
Long-Cash Ratio:  FELL -7% to 0.260
% Long-rated stocks in database:  FELL -1.1% to 20.7%

Slope Table:


Mixed progress today in terms of the right-side of the table, but overall, bearish on the short-term.  The sea of red on the left side puts any chance of a buy signal out at least to Thursday at the earliest, and it's going to take a stellar day on Wednesday to make that happen.

Cumulative Tick:


52-week New Lows still dominate over 52-week New Highs.  No buying on the long side when this is the case.

We saw the instantaneous cumulative tick (white) cross the longer-averaged cumulative tick (red) from below, which was initially bullish, but it failed and we're back into a slightly decreasing slope on the longer-termed cumulative tick chart.  Again, no buying when this is the case.

The "bunching" of the moving average lines of the ribbon tells us that we're close to either breaking upwards (a potentially new run at the long side), or we're going to rejoin the drop in the indexes.  While we certainly can go down from here, we are very oversold at this point, so I'm not as bearish as I was a week ago.  We may still drift sideways and have a few attempts at a breakout before it occurs ... I don't know.  Your crystal ball is as good as mine.

Timer Table:


The table tells all I need to know -- Wednesday is another easy day.

Strategy:

Travel day for me, and luckily, there is no reason to watch the markets.

I'll be out playing late on Wednesday night, so no blog entry.  Next entry will be Thursday.

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Standard disclaimers apply.

Regards,

pgd