Professor’s Comments April 11, 2019
Posted by OMS at April 11th, 2019
The markets rose mildly yesterday with technology leading the way higher. The Dow gained 7 points to close at 26,157. The NASDAQ and SPX were up 55 and 10 points, respectively. Volume on the NYSE was moderate, coming in at 97 percent of its 10-day moving average. There were 123 new highs and 10 new lows.
There were NO CHANGES to the market timing indicators after yesterday’s session. The Dow, NASDAQ, SPX, and Russell 2K remain on Buy Signals.
BTW, during Wednesday’s pullback, I used the opportunity to add shares of DDM and UWM to my personal portfolio. I talked about doing this in Tuesday’s Comments when the 2-period RSI was oversold.
The pattern and the Sector Ratio still support the case for higher prices. My current target for the developing Bearish Rising Wedge or Ending Diagonal Pattern is above the 27,000 level with 27,500 possible. Students should realize that Ending Diagonals are termination patterns usually found in the final wave of a Major Bull Market. These patterns can and often do truncate, so there are no guarantees that prices will reach the 27,000 level. However as long as the timing indicators remain positive AND the Sector Ratio stays above 15-9 positive, the odds favor higher prices.
The Sector Ratio stayed at 23-1 positive after yesterday’s session. The Strong List was led by Real Estate, Retail, Household Products, Semiconductors, and Technology. The only Weak Sector was FoodDrugs. The fact that the Sector Ratio continues to remain very strong supports the Bullish case for the intermediate trend.
Model Portfolio: There were NO Changes to the Model Portfolio after yesterday’s session. The Model continues to hold a full position in DDM (538 shares), a full position (370 shares) in UWM, the positive ETF for the Russell 2K, and a half position (635 shares) in UCO, the ETF for Crude Oil. The remainder of the theoretical $100,000 Model Portfolio remains in cash ($36,861).
The Model Portfolio has gained $4,231 since inception, even though the conditions that the Model was designed to take advantage of (a trending market) have not occurred to date.
The Model continues to wait for a Buy Signal to be generated for Gold. Be patient.
The Model Portfolio is being shown for educational purposed only. The Buy/Sell actions in the Model Portfolio are made based on technical indicators that can and do change frequently and should NOT be considered as recommendations for trading an actual portfolio. Any gain or loss in the Model Portfolio should not be used to predict future performance of the Model.
That’s what I’m doing,
h
Market Signals for
04-11-2019
DMI (DIA) | POS |
DMI (QQQ) | POS |
A/D OSC | |
DEANs LIST | POS |
THE TIDE | POS |
Index | Signal | Signal Date |
---|---|---|
DOW | POS | 01 Apr 2019 |
NASDAQ | POS | 13 Mar 2019 |
GOLD | NEU | 09 Apr 2019 |
U.S. DOLLAR | NEU | 28 Mar 2019 |
BONDS | NEU | 01 Apr 2019 |
CRUDE OIL | POS | 26 Mar 2019 |
One hour video recorded from May 28, 2016 The Professor’s Signs of a Major Market Turn – Prospectives and the Projected Timing and Levels One hour streaming video – includes webinar handouts The Professor usually holds an update class whenever the Market looks like it may be making a major turn. If you have been following the Professor’s Comments you know that a turn is due….. LEARN MORE
Not sure of the terminology we use? Check out these articles
The Hockey Stick Pattern
The Creation of Waves and Trends
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Category: Professor's Comments