Tuesday, November 3, 2009
Market prediction and a short-term trade suggestion
After tanking for the past couple of weeks indexes reversed off their lows today and managed to close up or around unchanged, albeit on relatively lackluster volume.
Climax Low signals were scarce in my list of 27 major market indexes and ETFs, however the total number of Climax Lows across the database spiked up to 243. This is significant enough to portend a bounce or at least a bounce attempt. A short-term bottom may have formed.
It may be fruitful at this juncture to buy some of the stocks showing Climax Lows and/or Pristine buy signals, although a nimble approach will be required in case things start to slide again. You can use the GigaScanner to find stocks putting out Climax Low and Pristine Buy signals.
Climax Low signals were scarce in my list of 27 major market indexes and ETFs, however the total number of Climax Lows across the database spiked up to 243. This is significant enough to portend a bounce or at least a bounce attempt. A short-term bottom may have formed.
It may be fruitful at this juncture to buy some of the stocks showing Climax Lows and/or Pristine buy signals, although a nimble approach will be required in case things start to slide again. You can use the GigaScanner to find stocks putting out Climax Low and Pristine Buy signals.
// posted by gigascanner @ 7:39 PM 
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