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RULES FOR FOLLOWING THE SEVEN SENTINELS
The concurrent alignment of all seven signals under specific conditions constitutes a signal and defines the context or prevailing trend of the market. Here are the individual buy/sell triggers:
TRINQ and TRIN: Daily reading below the 13 Day Exponential Moving Average (EMA) is buy mode, a reading above the 13 Day EMA is sell mode.
For NAMO, NYMO, NAHL, NYHL, a daily reading above the 6 Day EMA is buy mode, and reading below the 6 Day EMA is sell mode.
For BPCOMPQ, A positive crossing though the lower or upper bollinger band constitutes buy mode. A negative crossing through the lower or upper Bolinger Band constitutes sell mode. It stays in buy mode or in sell mode until it re-crosses in the opposite direction.
All seven must be in a sell or buy condition simultaneously to complete the signal.
The concurrent alignment of all seven signals under specific conditions constitutes a signal and defines the context or prevailing trend of the market. Here are the individual buy/sell triggers:
TRINQ and TRIN: Daily reading below the 13 Day Exponential Moving Average (EMA) is buy mode, a reading above the 13 Day EMA is sell mode.
For NAMO, NYMO, NAHL, NYHL, a daily reading above the 6 Day EMA is buy mode, and reading below the 6 Day EMA is sell mode.
For BPCOMPQ, A positive crossing though the lower or upper bollinger band constitutes buy mode. A negative crossing through the lower or upper Bolinger Band constitutes sell mode. It stays in buy mode or in sell mode until it re-crosses in the opposite direction.
All seven must be in a sell or buy condition simultaneously to complete the signal.
Shaking Weak Hands?
Posted 07-28-2010 at 11:27 PM by coolhand
It would seem the market makers are intent on shaking weak handed bulls loose before turning things back up again. At least that's my perspective.
The market is shrugging off a pretty rosy earnings picture and is instead focusing on the negatives such as this mornings disappointing June durable goods number, which was down 1% vice up an anticipated 1%.
The Fed's latest Beige Book didn't inspire buyers either.
But then again this is exactly what the doctor ordered given we were in an overbought condition.
Here's today's charts:
Two sells here, but I see no reason for concern given the previous overbought condition.
Two more sells, but the same holds true here.
Two sells, but staying close to the 13 day EMA.
BPCOMPQ still looks good and remains on a buy.
So we have only 1 signal flashing a buy, but I'm convinced the market is consolidating and trying to shake loose the weak hands in the process. The system remains on a buy and I am looking for a resumption of an upward bias soon.
The market is shrugging off a pretty rosy earnings picture and is instead focusing on the negatives such as this mornings disappointing June durable goods number, which was down 1% vice up an anticipated 1%.
The Fed's latest Beige Book didn't inspire buyers either.
But then again this is exactly what the doctor ordered given we were in an overbought condition.
Here's today's charts:
Two sells here, but I see no reason for concern given the previous overbought condition.
Two more sells, but the same holds true here.
Two sells, but staying close to the 13 day EMA.
BPCOMPQ still looks good and remains on a buy.
So we have only 1 signal flashing a buy, but I'm convinced the market is consolidating and trying to shake loose the weak hands in the process. The system remains on a buy and I am looking for a resumption of an upward bias soon.
Total Comments 1
Comments
If the previous 7 months are any indication,
this last week of the month should be flat to lower.
That would leave about a week & 1/2 before the OPEX trend starts, based on this years performance.
this last week of the month should be flat to lower.
That would leave about a week & 1/2 before the OPEX trend starts, based on this years performance.
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