Market will not quit……..A new buy signal

Market will not quit……..A new buy signal

This retracement was short lived. The market has still got momentum pushing it higher.  With all that is going on in the national and international arena, I am surprised that we are moving higher. With all of the money on the sidelines, it must be burning a hole in the pockets of the funds.  Nevertheless,  we are moving higher on lower volume.  If you are still in the market, make sure you are locking in most of your profits.  It is imperative that you at least follow the targets on the conservative scans and take the profits when you hit the target prices.

I said a couple of weeks ago, before we got the dark green signal on the S&P, that we should go to 1150 on the S&P. I thought we would get there this coming week.  Lets see what happens.  I am taking some long signals with double greens,  and I will watch them with a close eye.  Remember that we are looking at most of the laggards where we are getting the double greens signals . The stronger stocks always emerge with a breakout normally first. There have been a lot of indications from the charts that we are topping out.  If we do not get filled on these entries we know we are probably there.

With all my best and wishing you Successful Trading,

God Bless You All

Gene Stunkel

Creator of the Wizard