$DIA $QQQ $RUT $SPY $SPX $SOX $VXX
“The sentiment says, there is still no Bubble in this market, and Bitcoin is the future despite billionaire haters”–Paul Ebeling
Here is how the US stock market is set up technically:
The Technical Scans revealed increasing distribution action over the last few sessions as the number of Power Downs, Wide Range Breakdowns, and Oversold results outnumbered their Bullish counter-parts.
Even the dry up in the Pullback Long results is a sign that stocks are starting to correct a bit deeper within context of uptrends to make them questionable.
While there are a good amount of results among the Weekly consolidation scans, it is prudent to note that our SPY trend-following signal shifted back to a Yellow/Neutral phase.
While this indicator is not designed to perfectly time the market at its highs and lows, it does do a good job at keeping traders focused on what to expect from the current cycle of the market.
These Neutral/Flat (w/Bullish biases) markets can often be choppy, so appropriate adjustments should be made to deal with it.
Internals/breadth should be evaluated to determine which set-ups will offer the greatest probability of success.
I give you them in the Setting on a Cash Pile column. Here is an example. Tune in.
Remember, it is your money and your responsibility.
Have a prosperous week, Keep the Faith!
