DPR Update – Thursday, June 22nd, 2017

DPR Action:  No changes, nothing to do

The market is meandering right now, wondering whether to make a new high or sell-off a little.  The Nasdaq has not joined it’s cohorts the S&P 500 and the DOW in making new all time highs recently due to the severity of June 9th’s big sell-off.  But it’s trying…

At some point there has to be some selling, and this is as logical a place as any.  I will frankly be disappointed if we don’t see some decent selling into the beginning of next week, as if it continues to meander it may mean the system will get another buy signal without the wind behind it that often comes from buying the bottom of a natural swoon.

Bottom line, it will do whatever it is going to do, but I expect there will be one or two really big trend trades left in 2017, so let’s hope for a summer sell-off so the system can swoop in and take advantage of a decent correction.  I’m not saying it’s coming, but seasonality wise, it’s overdue…

Until a signal comes, the powder stays dry with no trade during this choppy week at all.

My best,

John