The action this afternoon was not to our liking, but in the end did not do immediate damage to our recovering momentum indicators.
After a couple of nice up days after the Thursday low, its not surprising to see a down day. The techs stood in there pretty good and overall we are still seeing recovery in our indicators and across many of the stocks and ETFs we follow. In fact we saw more strength "under the covers" than we saw reflected in the indexes, so that is a good thing.
Caution is still the overall strategy as our Slow Momentum is still struggling in negative TradeWinds even though it is leveling out. One good day puts us back to neutral, but one bad day ......
Meantime if you have been checking our TradeWinds Top 25 lists and TradeWinds Black Box you are missing out on some mighty fine trade calling. The Black Box this week is currently is a perfect 5 for 5, and over the last four weeks we are 24 - 8 in picking long side tradable stocks in our Black Box.
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