Tuesday, June 28, 2011

6/28 10:40

Friday is the first day that the lead-adjusted short-term timing component returns back under 10.5 (after a relatively high peak of +16).  That makes Thursday afternoon my action time for shorting this market.

  The daily technical composite is still at +14 so with only 3 trading days remaining they need to be strong up to get the composite back to a neutral +4.

The dollar is declining in sympathy with the stock rally.  Daily M/As converge at 75.25, which offers a good buying opportunity (currently 75.31).

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