Friday, May 20, 2016

Ignore the Bounce and Start a 3-day Weekend

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Outlook: (unchanged from Thursday)

Short-term:  markets are in a downtrend
Intermediate-term:  downtrend
Long-term:  Uptrend, but weakening


Cumulative Tick

Click on the image to enlarge

1) New 52-week lows DOMINATED new 52-week highs --> Do not buy stocks in this climate.
2) The overarching theme on the Cumulative Tick chart is that more stocks are being sold over a 1 day, 2 day, and into a 3 day period.  Until we see the white line above the red line, I'm on the sidelines for my intermediate and long-term stock selections.

Starting my 3-day weekend early.

Stocks that go out through my text alerting service are all Greenfield stocks but I do not advocate any purchases on an extended basis.  We have not established a floor.



I intend to finish the most recent edition this weekend and will email to registered subscribers.

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As with all my ramblings, you are responsible for your own investment decisions and I am not.  Please do your own diligence, and please take ownership for your actions.  The stocks I have listed here are not recommendations -- they are seeds for you to do your own research.