The case for long side momentum just got stronger - much stronger. Thirty-nine of the 85 equities we track now have long momentum wind at their backs, and another 19 are in the calm or neutral waters.
I don't call bottoms or tops, or bull markets or bear markets; and I don't try to explain why the market is moving. I just try to point what is the direction and how strong it is. Our slow momentum indicator in still in neutral waters, but rising smartly. So we aren't totally without some resistance 's to our growing strength. Also, when you look just at the major indexes, they aren't as strong as the combination of the sectors. This is particularly true of the technology stocks - QQQQ in particularly. Its getting better, but a few strong tech days would put us totally over the hump.
We started our TradeWinds Black Box trial today. We selected stocks from Friday's close which were new to the Top 25 Long list and showing long or neutral momentum. We will track these for a week. Check it out on our Top 25 list page along with today's momentum leaders.
This market is frustrating alot of the so-called experts, that are just determined to call this a major bear market. I will post some of their articles later this week. Real traders don't care if its bull or bear, because within any type of market their are always swings one way or the other. A trader just wants to know which side of the trade to be on today. Long would be the answer to that question. When the answer is Short, we will tell you so.
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