At the rate this market is declining, we could put in a tradable, low-risk market entry opportunity before long. Of course, next up is this “Brexit” vote thing the 23rd. I suppose we could actually get to a signalling place by then… learn of the vote result, and have a reversal to the upside. I don’t predict, but try to look ahead and anticipate what possible scenario might unfold. With that in mind, I suppose it would be helpful to learn just how many hours ahead of us they are, and when a probable result would be made known… and see if we can’t get any kind of a low-risk signal here worthy of acting on. Sounds like a great idea while sitting here in the eastern US on a Sunday afternoon.
So, I updated the timer first, and my ‘thesis’ could play out like that. The timer could conceivably signal by Thursday. Risk is coming out rather powerfully. If the OEX were to decline to the same level as the past two lows, which is price support, I could see the Xpert also saying that support may be that place where risk is reading low. That’s what I’ll be watching for this week, as a possible opportunity to add shares.
Running the search, I have these same 23 excellent stocks: NKE, HRL, JKHY, TJX, ROST, EFX, HD, UNH, NOC, TSCO, AOS, EL, LOW, SBUX, STZ, COST, RAI, LMT, SYK, FDS, CVS, NDAQ and DG.
Those that have just been hanging in there even during this present market weakness, possessing a price strength all their own are: EFX, UNH, NOC, AOS, LOW, COST, LMT, SYK and DG.
Looking overseas this Sunday evening, our index futures are up well! We’ll check again Monday morning….
Well, the thesis was correct, but my ‘script’ wasn’t. Markets up the world over because everyone is so ‘certain’ the “Brexit” is not going to happen.
Here’s to your successful investing!
Harold F Crowell