The Downtrend Has Been Broken
Technically, yesterday's follow-though move was a very important one for the overall market. Yesterday's candle broke through the current steep downtrend , on very good volume. Also the Wilder's ADX line has flattened out, which is a signal that the bearish trend has been halted for now. And very impressively, the RSI(14) has shot up close to 50, which is a medium-term dividing line between bearish and bullish. So all-in-all, the landscape has changed over the last two days. There's nothing to say that the trend won't turn around again to retest the recent lows, but at least for now the steep downtrend has been broken.
The Trade 4 Cash system has 10 new signals for today. It is using yesterday's strength to sell five of its current holdings, and is buying five new stocks. The system has gained about 5 percent over the last two days, and is looking to extend its upward rebound today. Have a great Friday!
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