With the way the market is moving today I am more convinced my model is good at showing overbought/oversold conditions.
Prior to the market close 3 models are giving a buy indication: Financials based on FAS, Retailers based on RETL and SP500 based on SPXL. As such in my paper trading (see the "What If" page) I will be buying these 3 leverage ETFs tomorrow. I'll wait until the dust settles from today's sell-off; probably around 11:30 or so.
So the score stands 9 bears - 4 bulls.
----------B U L L I N D I C A T O R S--------------
Biotechnology, represented by BIB
Finance, based on FAS.
SP 500, based on SPXL.
Retail, based on RETL.
----------- Remaining B E A R S--------------
Small Caps based on TNA.
Mid Caps based on MIDU.
Energy, based on ERX.
Real Estate, based on DRN.
Technology, based on TECL.
Basic Materials, based on MATL.
Prior to the market close 3 models are giving a buy indication: Financials based on FAS, Retailers based on RETL and SP500 based on SPXL. As such in my paper trading (see the "What If" page) I will be buying these 3 leverage ETFs tomorrow. I'll wait until the dust settles from today's sell-off; probably around 11:30 or so.
So the score stands 9 bears - 4 bulls.
----------B U L L I N D I C A T O R S--------------
Biotechnology, represented by BIB
Finance, based on FAS.
SP 500, based on SPXL.
Retail, based on RETL.
----------- Remaining B E A R S--------------
Small Caps based on TNA.
Mid Caps based on MIDU.
Energy, based on ERX.
Real Estate, based on DRN.
Technology, based on TECL.
Basic Materials, based on MATL.
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