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Signal Time

9/5/2014 6:11:03 AM

Good morning Traders,

As the markets roll into the weekend, we are getting a sell signal, placing us in sell mode.

Daily Stock Barometer QQQ Trader - Primary System Chart

That means short the QQQs, and we'll consider adding some bearish PUTS as well as selling Covered Calls in our other services. Friday's are tough to go short as traders will often close their shorts over the weekend, so we could see a short term push higher at some point during the day unless we get a total melt down.

Sentiment suggests the market remains vulnerable:

Cumulative Equity Money Flows

A turn down in this line would be bearish, longer term. The nature and tone of the market would change.

Equity Fund Money Flow versus % Bulls minus % Bears

This chart also shows the money flow and investor sentiment. Two unique data series that move in lock step - which proves my point, sentiment is sentiment, no matter how you slice it. And when traders are overly bullish, and already in the market, then the market is vulnerable to a correction.

Regards,

 

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