Update July 19, 2013

Posted by professor  at July 19th, 2013

With the Dow pulling back in what appears to be the start of a wave 2 retracement, I’m just watching.

Obviously, VRTX is off to a nice start after a Band Squeeze on the 60s.  Money is currently flowing out of technology (things like Google and Microsoft) and into healthcare and drugs, among other things.  My target for this move is near 93. BTW, we had a clue about technology a few days ago when Emeritus highlighted Intel, INTC, as a short.

TBT is pulling back after yesterday’s initial pop in what appears to be a small wave 2.  As long as the ETF stays yellow on the 60’s  and does not go into a trend mode, I’m OK with that.  I will look to buy additional shares if it turns Green on the 60s.

FXP is oversold on the 60s and is just marking time.  I’m holding.

The 2-period RSI Wilder on the Daily DIA is still no where near being oversold.  So I’m just waiting .  It’s the time for patience.

TWID,

h

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