Sunday, July 14, 2013

DJT Must Confirm

I'm still 75% invested, planing to do my final buy at the next dip.

Indices Long Term Current and Past Portfolio
New Portfolio for trading DIA, IWM, QQQ and SPY. In the frenzy stage of a bull market, major indices and high fliers out perform everything else. My plan is to do my first buy of 4 near open tomorrow.

Friday's closing high's in 4 major indices (DJI, NAZ, RUT and SPX) must be confirmed by DJT within a few trading days or we are going to run into issues, specially if DJT fails to break through its primary downtrend line (thick blue in chart below) and starts selling off and trading below its active uptrend line (thick orange in chart below).

Indices are overbought, so a likely scenario is for DJT sells off to test its active uptrend line (thick orange) on Monday / Tuesday, then takes off from there. We must see a new closing high for DJT by end of this coming week at the latest.  It's going to be a tough going for DJT this coming week, as shown on the chart above, but  DJT very likely will bulldoze through and reach new high's. That would be extremely bullish..

Disclaimer: The views expressed are provided for information purposes only and should not be construed in any way as investment advice or recommendation.  Furthermore, the opinions expressed may change without notice.