ETF Range Projections & A Quote to Start the Day

We have not made any changes because of a drawdown.  While we have made minor changes since the program started trading in 1974, over the course of the years the basic concepts have never changed.  The majority of the trading parameters and the buy and sell signals largely have remained the same.

- Bill Dunn

Today’s Economic Data Releases and Fed Speak!

For more detailed economic data click “Today’s Calendar” in the navigation bar to the left.

Asian markets are almost the mirror image of yesterday morning Europe if flat: Nikkei 225 +1.95%, Hang Seng +1.05%, Shanghai -0.73%, DAX +0.04%, and the FTSE 100 +0.66%.

At about 7:45 AM ET, the futures are flat with the exception of Gold, $1,000 being soundly rejected, at least for now: Dow -21, S&P -1.9, NAZ -3.6, Oil +$0.24 and Gold -$11.10.

have a great day!

Kinks in the Armor

Yesterday we went over the Morningstar Sectors with one of the PrudentTrader’s trading systems.  Noted — all 31 sectors are long for various periods of time.  Quite a few have been long from March and April of this year. A few have been whipsawed once or twice. Of course whipsaws are an integral part of any trading system and one of the primary reasons I harp on diversification as strongly as I believe I do.

While all the Morningstar sectors remain on a buy signal,  some of the industry groups which comprise those sectors have moved to the sidelines:

Are these temporary kinks in the armor? Or will they lead to something more serious? Are you invested in any of these groups? If so do you have an exit strategy in place?

Food for thought!