Most of my main indicators in my market timing strategy are end of day and they’re not updated yet, but I’m optimistic that after today’s rally we’re going to get a all clear to get long this market. It may not come for a few more days, but I’ve been telling you guys to be a bull since July 14th when my system when green. Yes the market has given us a few bumps along the way and made it hard to stay long, but at the very least nobody should have been shorting this market. Today would have been a nail if you were short and it would have been very difficult to sit with those positions.
I bought small positions in DIA and QQQQ and I may add to them afterhours or wait for a pullback tomorrow. The tough trade today was going long after that huge gap up. The tougher the trade, the more likely it will be profitable.
We may actually revisit the recent highs. Not a prediction, just a possibility.
Market internals are extremely healthy. Not to overbought or oversold. Just right.
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