Time to Go Long the Stock Market Again- Trend Following
We have had several nice up days…so all clear? Well, there were no breakouts today of leading stocks. The lack of buyable stocks is a cause for caution and I would take new position very carefully if at all, but this follow through looks a bit better. We are still below the 50 day and 200 day exponential moving averages. We are not on a buy on my Andrew Abraham Trend following model. One day above support is positive but not a complete positive.
My leaders are not the most dynamic…You want to see in growth stocks tech companies or new unique product companies….rather we only have food stocks, utilities and metals. Not impressive…