Art's futures biases for May 19. A "1" means bullish bias. A "-1" means bearish bias. The total is the sum of biases. A positive sum will be long bias. A negative sum will be a short bias. A sum of zero will be a neutral bias
Art's futures biases for May 22. A "1" means bullish bias. A "-1" means bearish bias. The total is the sum of biases. A positive sum will be long bias. A negative sum will be a short bias. A sum of zero will be a neutral bias
Art's futures biases for May 23. A "1" means bullish bias. A "-1" means bearish bias. The total is the sum of biases. A positive sum will be long bias. A negative sum will be a short bias. A sum of zero will be a neutral bias
I am now officially off the index futures fence. The markets have sharply dropped into oversold territory. While I can't discount the possibility that we're not totally out of the woods yet, I think the imminent move is to the upside. My main evidence is that the day of month signal has switched to the bullish side, giving the calender indicators a bullish bias for Tuesday. The either-or indicators support this. I'll therefore be looking to buy while acknowledging that the ride might be anything but smooth.
It would be foolish to ignore the fact that the market is finally melting in long-overdue fashion given the innumerable bearish fundamental factors dogging our world. Every rally is now to be viewed with deserved skepticism, fear and trepidation. Which is precisely why you may see a barn burning rally within the next day or two that doesn't peter out. I refuse to fight the near-unanimously bullish signals the czar charts are now producing but on the other hand, the last thing I want to do is get long on rallies. The best bet for an up-move on Wednesday will be for one that materializes off sharply lower levels--perhaps shortly after the opening, or maybe mid-day after the market has continued to carve its way lower. Don't doubt the fact that the short side could also be treacherous.
Art's futures biases for May 25. A "1" means bullish bias. A "-1" means bearish bias. The total is the sum of biases. A positive sum will be long bias. A negative sum will be a short bias. A sum of zero will be a neutral bias
Art's futures biases for May 26. A "1" means bullish bias. A "-1" means bearish bias. The total is the sum of biases. A positive sum will be long bias. A negative sum will be a short bias. A sum of zero will be a neutral bias
Art's futures biases for May 30. A "1" means bullish bias. A "-1" means bearish bias. The total is the sum of biases. A positive sum will be long bias. A negative sum will be a short bias. A sum of zero will be a neutral bias
Art's futures biases for May 31. A "1" means bullish bias. A "-1" means bearish bias. The total is the sum of biases. A positive sum will be long bias. A negative sum will be a short bias. A sum of zero will be a neutral bias.