Friday, April 7, 2017

weekly outlook Apr 10, 2017

Indexes closed flat (very small losses) for the Apr 3rd week.  Three shorter cycles up, Longer cycle topped and turned down.  TSI flashing negatives.  Mixed signals, but bias of cycles should be up for the week.



GL traders

5 comments:

  1. With the NEG Divergences it would be most prudent to short rallies rather than BUY as you have circled on the chart? Right?

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  2. Short - RWM (Russell 2000 index inverse ETF). Long - IWM (Russell 2000 long ETF). Why not play pops and drops? Expect 1 1/2% or so short term moves.

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    1. Seems Reasonable. Buy 2320. Sell 2360. I assumed you wanted to BUY here at 2360 for a retest of highs.

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    2. Have a limit buy in for RWM about 1% below current level (around $47.50). May change to a market order if it does not come to me.

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    3. RWM worked out ok, even after I had to raise my entry price to just under $48 to get in. Still making about 1 1/2 % after brokerage fees. Glad to get out before a long weekend.

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