Market Dashboard - Tight Stops

Not much change from yesterday.  Keeping my stops tight.

Market Dashboard - Too Hot?

The indicators are all very hot.  This could be telling us that a pullback is needed.  I have my stops set pretty tight at this point.

Market Dashboard - Indicator Swing

Today's rally caused Primary Indicator #1 to go into the red zone, and the leading black needle of Primary Indicator #2 to go into the red zone.  I view this as bullish, however the leading directional indicator is still pointing down.  This indicates a market that definitely has the potential to continue higher, but caution should be exercised as markets are generally overbought.

Market Dashboard - Undecided Market

An interesting turn of events today with a big new event from the ECB.  Primary Indicator #2 reversed course, with the black needle leading the grey needle back toward the red zone.  The Very Short Term indicator has spiked and the leading directional indicator has remained negative.  If we have another strongly bullish day tomorrow I think the leading directional indicator might turn back to the bullish side.  I learned several years ago that you should not fight the Fed when they make groundbreaking announcements; can the same be said for an ECB that actually punishes investors for buying bonds with a negative interest rate?  Probably.

Market Dashboard - Leading Indicator turns Bearish

As I mentioned as a likely scenario in yesterday's analysis, the Leading Directional Indicator turned bearish today.  Primary Indicator #2 is also showing bearish tendencies, with the black needle leading the grey needle away from the red zone.  The market seems ready to show us another short to medium term top.

Market Dashboard - Neutral to slightly bearish

Primary indicator #2's black needle is leading the grey needle away from the red range.  This is indicative of a potential top.  Also, I think the Leading Directional Indicator could turn bearish tomorrow or the next day which would add validity to Primary Indicator #2.

Market Dashboard - Cautiously Bullish