by Jeff Pierce, Zentrader
The general markets have been on shaky grounds per my timing signal in March – June and while the markets have rallied since then it just as easily could have gone the other way. Trade setups were quite scare during that period, at least they were for me and the way I analyze bullish setups but things seem to be getting back on trace. With all my time frames and long term trend up it’s more safe now then it has been in quite some time to commit a larger than normal amount to long trades and to be lightening up on any remaining shorts you may have.
In May, both the Nasdaq and Djia made significant strides for the bulls but it was my longer term trend indicator that remained stubbornly bullish up until early July. With that now green I’m looking forward to earnings season to provide many new trading opportunities. If that doesn’t happen and new leaders fail to emerge then we could have some trouble with the market going forward. Watch for clues and new leaders or lack of new leadership.