As you can see from the chart above, The PPT‘s oversold indicator crushed it again. Over the lifetime of the system, since 2008, the system is now running at an impressive 83% accuracy rate. Now what I would like you to do, since you’re all big talkers, is to print this post out, dip it in some water, and smack yourselves in your big, fat, faces with it.
Futures are indicating a weak opening. But I don’t believe the sellers are hell bent on lower prices just yet. We are overdue for some weakness, the July lull that I’ve been waiting for. But at the end of the day, any dip is a buying opportunity until late August.
Just to reiterate: I am ‘super-bullish’ on stocks until late August, when I believe this market might top out. Until then, enjoy your chinese lottery plays and prepare for a rainy day.