My 60-min Trend System issued a cover signal with the move up this morning. See here and here. (These updates are sent out as part of my Trend System Notifications). Not a huge gain with the move down (1.6%) but I will certainly take it and be grateful.
And speaking of being grateful, this is another reason why I am extremely grateful for my trend system in the current environment: One Big Fat F***ing ETF, Deal With It. Stock picking isn't dead, but it is really hard to get an edge that way when the market as a whole flips 'risk on' / 'risk off' like a switch. Finding a way to navigate that chop is key.
Like I was saying yesterday, the setup felt a lot like Sept 22. And today felt a bit like Sept 23 (a real ramp at the end of the day would have cinched it). I am considering a bit more the idea that a similar pattern might be playing out here:
And for anybody that is interested, here is my current EW count: