Thursday, 4/20, 8:40 am EST. I’ve updated the OEXpert 7 Stock Market Timer. It’s up right now. What is it “saying”? There are a total of 7 indicators here. The first is that price, in this case, of the OEX, or S&P 100, signals when it declines into, or below 2 lower trading bands. It is just not there yet… close, but no cigar.
F1 is at 10, and has signaled. There’s room to go a bit lower.
F2 is at -28, and has been as low as -31 recently. It typically signals first, and really needs to get to -35 to do so.
F3 is at -12, has been to -10, and has signaled.
F4 is at -6, has been as low as -27, and really needs to get as low as -30, so it’s been close.
F5 is now at 30, and has been to 24. It only needs to get to 40, or lower, so it has signaled, along with F1, and F3.
Finally, F6 is now at 13 or 14, but has already been to 1. It has signaled, and joins F1, F3 and F5.
The interpretation would be that the Xpert has nominally signaled a “Low-Risk Market Entry Opportunity,” such as I said it would likely do last week. In order to create a truly confident signal, that would excite me… I’d love to see the OEX decline further, to at least 1020, or lower, and for F2 and F4, to get on board with the other indicators.
This may be as good as it gets, or it may not… The pre-openers are pointing up a decent amount this morning, and we may get off to a new rally with this… or, we may have to settle back some more, over a period of another week or two.
In any case, getting shopping lists in order is called for here, and the taking of some smaller positions is certainly prudent, so that, if it were to launch, you wouldn’t miss the opportunity altogether… IF this is it. What have I said before? Predicting is hard; especially the future!