Market Timer Daily Update
Thursday (6/6): Here’s how the DOW, S&P500 and the Nasdaq closed today:
MTVOL / Chg
BoP 1st Col Herding
112% / -7%
@ +1.59 / -.03
MTVOL / Chg
BoP 1st Col Herding
105% / -8%
@ +1.64 / -.03
Today’s Comments: As stated yesterday, “If the market does not decline tomorrow, it should very soon.”
We did not get a decline today but instead had yet another rally with no bullish herding in the 1st column in the BoP. Looking at our historic data, we have not seen the market move higher by 900 points in three days with two of the three days without 1st column bullish herding. This is extremely bearish in in our estimation.
BOTTOM LINE: The LT Signal continued to decline again today despite the rally. The lack of BoP bullish herding in the 1st column again today and the continued decline in the LT Signal is becoming very bearish in the intermediate-term and in the short-term.
Have a great night!
- The Market Timer team
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