tag:blogger.com,1999:blog-12333088.post7585411072079772715..comments2023-11-10T05:07:19.026-05:00Comments on Carl Futia: UpdateCarl Futiahttp://www.blogger.com/profile/01624989905417650273noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-12333088.post-2286696519273190032009-08-08T09:31:38.498-04:002009-08-08T09:31:38.498-04:00Hi Carl,
By just barely a tick or so there was no...Hi Carl,<br /><br />By just barely a tick or so there was no confirmation of my buy signal, BUT... the cash did confirm the buy signal and so did the DOW, this can't be completely ignored even though the futures missed the signal by only a few ticks. The actual mathematical closing price had to be above 1006.94, therefore 1007.00 since the futures doesn't trade in that format. At the closing bell on the hour for the markets we were trading at 1007.00, it sold off and settled at 1006.40 fifteen minutes later. No confirmation, but the DOW and SP cash market did confirm their signals, this cannot be dismissed too quickly.<br /><br />I decided to remain long at my entry price of 1005.00 despite the futures non-confirmation because there is too much other information telling me the market doesn't want to go down.<br /><br />More than 80% of the stocks in the SP 500 are now above their 200 day exponential moving average. The exponential moving average is a more complicated formula and sets a higher standard than the regular 200 DMA. The last bear market in 2002 and 2003 when stocks were down and then began to rally off those lows was the last time this indicator rose to above 80%.<br /><br />I believe we're now witnessing the birth of a new bull market and we'll see these markets move much higher very quickly.<br /><br />Thanks.<br /><br />Kindest regards,<br /><br />PMPMhttps://www.blogger.com/profile/00075052726630126469noreply@blogger.com