Continued strength has made the signals considerably less bullish with a preponderance of x30.. While trend following is active, playing this as a breakout now without some kind of pullback seems risky.
At the moment, the non trend following foxes are in agreement with the trend following branch of the family. M13m21, the long term profit champion, was long going into today, while em13, the legacy champion, sat the day out and thinks it will buy at the close. The shorter term guys think this is x30.… Continue reading 10/29/20 Mid Afternoon Signals
The SPY weekly chart has a green horizontal line highlighting the activity around the important 320 level. This marked the low of the September decline suggesting support, and an area of resistance for the spring rally. SPY currently sits at a slightly less significant support/resistance level. It seems inevitable that there will be a test… Continue reading 10/29/20 – Back on the Island