TradeWinds for April 14th

I am a little late making my daily updates as last night was spent working on completing those pesky tax returns.

While taxes are depressing enough, the market is giving very little joy itself. The good news is that there was no big downside follow up to Friday's GE inspired drop in the market. Our fast and moderate momentum indicators as moving well into oversold territory, while our slow momentum indicator remains in the positive TradeWinds territory. Of the forty ETF/Indexes that we track, 36 are either positive or neutral in their moderate momentum rating which is based on the Fisher Transform. Our fundamental long side momentum has not been broken, but we do need to see a snap back in our fast momentum in the next day our so, or we will see some real deteriation of the upside move. Since I read the short term to be oversold, I expect to see that.

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