I analyze macroeconomic issues from a fundamental perspective, and I analyze market behavior from a technical perspective. Original macroeconomic analysis can be found here and both macro analysis and commentary can be found on my Caps blog. If you like or appreciate my analysis, please add yourself to my Following List

Tuesday, November 22, 2011

Nov 22

My 60-min Trend System issued a buy signal. See here and here. (These updates are sent out as part of my Trend System Notifications).

I am not terribly happy with the rest of the day since that signal however. Leading up to the low today, we had a small divergence (Monday) which developed into a significant divergence today. And by 1 pm it was enough to turn my main indicator. But then instead of following through to the upside, the SPY retreated back into the range. That is not particularly compelling.

I need to see a reason why I should stay in the position tomorrow morning, or I might just cut my losses before I am unavailable on Friday.
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