Fishing for a bottom…

In my opinion, conditions are perfect for a swing low trade, I just need to get through tomorrow without it re-bounding too much too quickly, but I have to say, it has played out exactly as I hoped these last few days would.

I literally could not have asked the market to do anything else so far. I last exited at over $89.50 and now the price of the ETF is $73.50!

There is a bounce coming, but the system requires a show of strength and conviction before it signals a buy.  I am hoping that will be tomorrow.

As you can see from the picture above, my proprietary momentum indicator is showing an oversold signal.  Historically, these signals are the most lucrative in terms of percentage return.  So let’s see how this plays out..

Bring on the bulls!

John