Weekend Strategy Review May 15, 2016
Posted by OMS at May 15th, 2016
I’m attaching two charts for your review this morning.
The first shows how The Tide has turned negative. Remember, we always want to trade in the direction of The Tide.
The second chart shows the Head & Shoulders pattern that I talked about in the WSR. The RED line depicts the neckline near the 17,500 level on the Dow. If this neckline is broken, it’s likely that the Trend indicators will start to enter the Trend Mode.
If the Dow starts to trend, the next leg down should take it well below 17,000.
Protect yourself.
That’s what I’m doing,
h
Market Signals for
05-16-2016
| DMI (DIA) | NEG |
| DMI (QQQ) | NEG |
| COACH (DIA) | NEG |
| COACH (QQQ) | NEG |
| A/D OSC | |
| DEANs LIST | NEG |
| THE TIDE | NEG |
| SUM IND | NEG |
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, Weekend Strategy Review