The timer table indicates a short-term entry signal for Friday, and while this was valid, it was not strong and I chose not to get aggressive with it. Friday's action though pushed all the timers to the long side, which is bullish.
Notable here is that the long-term timer, the right column in the table, only spent 3 days in Cash. This has never happened in the past, with the historical average length of this being nearly one month and the shortest time in Cash being 8 days. 3 days in Cash is a new record.
The LCR slope transition of the 8d to green (Long) is what has triggered entry on Monday. This is a high probability entry, so pay attention.
Note that the LCR ranking on Friday was the 65 strongest 1-day jump relative to all the positive moves since 9/11/2008, Again, strong, so pay attention. I think this was more than just short covering or options expirations day.
For those of you who follow me regularly, you know I watch the preceding figure very closely.
We're still early in this effort, and the number of 52 week New Highs, as shown at the very top right of the figure, is barely above the number of 52 week new Lows on the NYSE. This is NOT ideal, and does not support the huge moves we had during the week. Nevertheless, I don't look at the value, just whether the 52NH is > 52NL, and it is, so we're good.
Mid-day on Friday the buying algos started kicking in in terms of bid/ask on the next transaction. Prices moved up constantly and consistently until just late in the day, which is bullish.
Finally, as far as the cumulative tick is concerned, "white above red" and all the slopes are positive on all measured time frames. As long as this holds I'm a buyer in this market.
The obvious question is what to buy?
Here are my Greenfield Leaders and Greenfield Bargains:
Here is the list to save you time from copying the list: