Sitting on the Trend Line
The market is sitting at an important technical level as we begin a new week. The Wilshire 5000 is right on its uptrend support line (drawn to daily closing prices). Looking at the Wilder's ADX/DMI indicator, the ADX line is flattening out, which indicates that the current trend is losing momentum. The +DMI line is almost ready to cross below the ADX line, which is another sign of faltering bullish momentum. In order for the current uptrend to continue, the market needs to turn things back upward very soon. So as today and this week go, so may go the rest of the quarter.
SCMV Weekly is purchasing another stock, and is up to three holdings. Tier 1 Steady MV and Trade 4 Cash each have a buy combination, and both systems remain fully invested. Wave Rider is doing nothing today, and continues to hold 9 stocks out a maximum portfolio size of 10.
The High Energy Watch List remains very active, and has 10 stocks in today's list. Have a good Monday!
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