Wednesday, May 12, 2021. I don’t have much time, so here goes…
The OEXpert 7 reads as follows, as I time the QQQ. The price is right into its lower trading bands, and that counts as a signal. F1 looks to be at 12 or 13, and is so close, another day would do it. F2 being first and early is there. F3 is slow and often late, but it is falling straight down, and is now at 41. A 10 would nail it, if it’s going to get there. I’m not counting on that. F4 is a -14, and with F1, another day, or maybe 2, would set that all up. F5 reads 50. I need a 40 to signal, and I could see that requiring one, but likely 2 days, to get there. Finally, F6 reads 9 again today. Love it when it gets just a bit lower, so again, one day or 2 could make that a solid signal for me.
I’m looking at a few others things, and they are doing the very same… getting ever so close, but requiring another day or two to finally find their home, and tell me that risk is low and an opportunity is beginning to knock.
So, my conclusion is that a reversal is immanent. I could see it happening in the first half of next week perhaps. This weekend, especially if Friday were also to bring some pain, I’d start drawing up my shopping list, and give consideration to more shares of favorites, and maybe some new positions in others.
Are you ready for this?
Harold F Crowell