It's no secret that I've been bearish lately and today didn't provide much for me to change my stance. My TLT Trender v2 is still in buy mode, as indicated by the green bar on the chart below, but it is dangerously close to giving a sell signal. I'm currently in cash and only putting on some small day trades and this will continue until the market provides an indication of which way it's gonna go.
Here's a looks at the daily chart of the S&P 500 with some annotations:
We'll need to see a stong up move, like a 2% move, in order for me to get bullish again, and conversly, some fresh lows will keep me bearish. Those non-farm payroll numbers on Friday may provide the catalyst we need in order to move one way or the other.
Good luck trading.
TLT
We'll need to see a stong up move, like a 2% move, in order for me to get bullish again, and conversly, some fresh lows will keep me bearish. Those non-farm payroll numbers on Friday may provide the catalyst we need in order to move one way or the other.
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