Friday, March 28, 2008

Watching And Waiting

Today is an important day for the averages. If prices close near or below yesterday's close an important weekly sell signal will incur raising the probabilities for a trip back down to March lows.

On the other hand, month end window dressing could kick in lending to more neutrality.

In other words, it's best not to make any bold predictions and take a wait and see approach here. As of yesterday's close, probabilities favor more downside. We'll see today if the market agrees.

:
:
What is the Power Signal?

Outlook:

With volume shrinking as the SPY tags the 50-day average, it's time to start putting on short positions again.
at

1 comment:

  1. Anonymous3/28/2008 10:23:00 AM

    Several gurus are calling for an April rally...I don't see the catalyst. Iraq looking worse, although the media still focused on politics.

    ReplyDelete