Today’s market activity pushed the major indexes higher and with it our Trend Tracking Indexes (TTI). The domestic TTI has now crossed its long-term trend line by +0.97%.
I will wait another day to see if this was just a one day pop followed by a drop on Tuesday before declaring this a new Buy signal. The domestic TTI only crossed above the line last Friday, and I usually like to see either a 1% move above or 3 trading days in bullish territory before establishing outright long positions.
However, I will move ahead with setting up further hedges regardless of the outcome. Nevertheless, this is crunch time for me, and my posts will be short and succinct for a few days.Contact Ulli