Professor’s Comments April 9, 2019
Posted by OMS at April 9th, 2019
The markets were mixed yesterday. The Dow fell 84 points to close at 26,341. The NASDAQ and SPX were up 15 and 3 points, respectively. Volume on the NYSE was moderate, coming in at 97 percent of its 10-day moving average. There were 98 new highs and 6 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.
The 2-period RSI on the Dow closed with a reading of 47.67, so IF the Dow falls tomorrow, students should look at the decline as a potential buying opportunity.
The Sector Ratio increased to 23-1 positive after yesterday’s session. The Strong List was led by Real Estate, Household Products, Semiconductors, Retail and Technology. The only Weak Sector was FoodDrugs. The fact that the Sector Ratio remains very strong continues to support 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 $4,485 since inception, even though the conditions that the Model was designed to take advantage of (a trending market) have not occurred to date.
Students should note that the Model remains void of gold, as it waits for corrective Wave 2 down in GLD to complete. Once this wave completes, gold should generate a Buy Signal that could take the metal to the 1,600 level. 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
04-09-2019
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 | NEG | 01 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
FAQ
All of the commentary expressed in this site and any attachments are opinions of the author, subject to change, and provided for educational purposes only. Nothing in this commentary or any attachments should be considered as trading advice. Trading any financial instrument is RISKY and may result in loss of capital including loss of principal. Past performance is not indicative of future results. Always understand the RISK before you trade.
Category: Professor's Comments