Last week's attempt at a reversal was quickly
dissipated on Monday's Near Impulse day as all markets opened at new
lows and put in new highs.
Intraday sell offs were usually reversed at the
end of the day.
This coming week may be a different story. We
again have a Near Impulse day for the DOW, NASDAQ, and Russell on Tuesday
and the S&P had one on Friday with a sell signal. Retail sales on
Tuesday could be the impulse for a decline.
Last week's performance for the Rhythm
Indicator was 14 out of 18 long trades profitable and 16 of 21 short trades
profitable.
Regards,
Jim White
Pivot Research & Trading
Co.
PivotTrader.com
----- Original Message -----
Sent: Sunday, September 13, 2009 5:26
AM
Subject: [RT] next week
The equity markets have experienced a strong
bullish move during the last five days, however they are all nearing
conditions for a correction.
Monday is a Near Impulse day for all major
indexes and they are all flashing trend change warning signals. We are not
quite there but I suspect action on Monday or Tuesday will produce sell
signals and the decline will begin. How far will they fall? - no one knows
but traders should find more opportunities on the short side.
Overall, the markets appear healthy so I
expect it will take a major bearish impulse or a series of lesser bearish
events to precipitate a major decline.
Jim White
Pivot Research & Trading
Co.
PivotTrader.com