The thing about writing a weekly article is that the market doesn’t always change directions on a weekend.
That being said, let’s take a look at our Timing Indicator:

As you can see, last week’s signal to go short was either early or wrong. We’ll only know the answer to this in hindsight. I’m guessing we’re early. Now the indicators are lining up for a potential buy signal. Seeing that our last 3 recommendations were to buy calls (which was pretty good in front of this 13 day rally), we have plenty of long exposure. And I wouldn’t want to add more bearish exposure until the market confirms a move lower.

So our call right now is to remain status quo and let 9/21 come and go since this date/period historically can represent key reversals.
Stay tuned...

Regards,

If you have any questions or comments, email me at Jay@stockbarometer.com.

Regards,

By Jay DeVincentis

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