Market Trend Indicator: Upgraded to Uptrend
April 30, 2012 8:50 am
Our proprietary Market Trend Indicator (MTI) has been upgraded. Just a few short weeks ago, the market started to slide and the indicator quickly signaled a Strong Downtrend.
As of Friday’s close, that changed to a market Uptrend.
The MTIs we use:
- Strong Downtrend
- Strong Uptrend
When this condition is present, it is better to buy dips and to be very careful when shorting a security. Of course the trend can change at any time and the recent level of distribution has been noticeable. Therefore, stops should be watched on any position that falls below key support, even though dip buying can be beneficial.
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