Following Wednesday's session, nearly all our indicators are now in sell mode.
The summation 21 remains in sell mode. We would like to get some negative momentum on the blue line in order to confirm the correction aspect of this move rather than a simple pullback like the one we had in late January.
The turnover index continues to decline, telling us that volumes are picking up on declining stocks.
Our Sigma Trading Oscillator turned negative (-5) for the first time since December the 19th. If we close two consecutive days below the zero line on the Sigma Trading Oscillator, the probability of a trend reversal (at least on a short term basis) will be high.
Our breath index closed at zero. This indicator is the only one that is not in sell mode for the time being.
With all these new sell signals, we believe we are on the right side of the market with our short position.
Have a nice day.
