I’ve included a sidelines feature to my timing signal in light of the many whipsaws we’ve seen lately. I was busy all last night and couldn’t get this update outwith our eldest birthday party, but I do always email those on my newsletter when their are changes to my timing signal. If you want to be on that list you can sign up here. It’s free and there are other benefits to being on the list as well.
I was actually hesitant to cover my shorts after the market close yesterday, and I almost went against my timing signal and held it given that lately my signals have been negated the next day, but I did go to cash yesterday.
Markets evolve – so should timing signals.
I’ve added a box around the many whipsaws my timing signal is having right now and until we break out of that range (either way) I’m not going to get too excited about a timing change as this volatility should be telling us something – there is no trend right now.
I can’t authorise a bullish signal when the RSI on the 60 minute chart is so obviously bearish. I also believe we should see some additional verification that this signal has legs (in the form of bullish setups and confirming indicators I use) and will send out a call when the markets sort themselves out. The markets are up significantly in the pre-market and it will be crucial that they hold their gains for the bulls to remain in control.
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