No teasing today. The market gave us the real deal, if you are inclined to the long side. Well, actually there was a little teasing in the early going of the session, but our momentum indicators were not to be denied and we had a very nice day indeed. Our slow or long term indicator has moved decisively into neutral or calm waters. We now have 54 of the 85 equities that we track in neutral or wind-at-the-back territory. The one caveat to all this good news for the longs is that the broad indexes are still struggling to get into the calm waters. They as a group are still facing a stiff headwind, although showing steady improvement. I want to see these indexes in the sunshine before the celebration really begins.
All plays need to be to the long side now. You might loosen your stops a little bit to give some working room for your trades, but with the indexes still lagging a bit, there still is a caution flag flying on the beach. I think you will find lots of good trade ideas on our Top 25 long list, so check it out.
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