I move form bearish to “Neutral” we are not completely healthy or oversold yet in the short term…I did my best to keep short and sweet I am still using the same formula to calculate the market health just not breakdown every chart.
……remember next week to stay focus!! the market is healthy(in big picture aspect) it is still in uptrend or rising wedge …sell offs are needed to confirm the market is in its bullish trend..this is 1 of 3 sell offs.
When the market starts frustrating you its doing its job….that is a “good thing” as its determining the next move…new push higher or test of major support…In the next two videos I give my perspective of what levels I am watching across several different assets to help understand and listen to what the market is preaching
…the 1st video I give brief explanation of my style and indicators that I use you can skip this video
Market Outlook
I breakdown currencies bonds commodities ETFs
………………..finish up with levels to watch in the indices
…the noise continues to become thick and louder in soft commodities with corn winning the race for the most noise…yes we know their is a 37yr supply low in corn but the price action is where the true wins..unless you own a noise machine!!!
I will be implementing a new feature into the blog to track the performance of “every” trade winners and losers also will include Weekly and Monthly reviews! ……to be successful in trading you need to understand every trade or setup and use a accurate calculation of performance.
I use ticker AGU Agrium Inc as a Example
In this quick 5min video I breakdown Gold GLD show where trend has develop over extensive amount of time and what range you will see buyers come in……click on link to play video http://chart.ly/sjwwohn
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