Tuesday, May 11, 2021. Well, I’m watching all this selling going on for awhile now, and I thought I’d update the OEXpert Stock Market 7 Timer. My interest is in the tech sector, which has been really taking it on the chin here lately.
So, as of today’s close, The bottom of the price move has tagged its lower trading bands, and is really close to being a signal. F1 is under its lower trading band and is reading a 19… Technically, that is a signal. Of course F2 has signaled… it’s always first and early. F3 is at 52 and dropping like a rock. It’s halfway. F4 is a -10, and would require a few more days to get to the requisite -20 or so to signal. F5 is reading a 54, and could also get to 40 to signal in a week. F6 is 9. It doesn’t need much more… a day or two, and it would give a solid signal.
My take is this… I believe this market could find a bottom within the next week. I need to watch and update daily. Risk is coming out rapidly, and we need to watch for the turning day… between now, and maybe this time next week… the 18th or 19th maybe.
As I update daily, I hope to get a clearer view of what might be ahead… as always, some word of news could reverse the course on a dime, and before the indicators get there…. Should that happen… BUY IT!!! I will.