Last week I discussed the overbought condition of Exodus coupled with the oversold status of several inverse ETFs. In the past, overall market overbought conditions had led to rallies. Markets like to run into momentum. But I sensed something was different this time around and correctly said as much.
Here are the last two oversold dates for TWM. The back test track record is flawless over the past 12 months.
Here’s my Exodus blog post from Monday of last week, delving into the cross currents.
I am pleased with the performance of the system last week and will be doing a special edition blog inside Exodus today, trying to make sense of this market.
As you can see by my position sheet below, I was unaffected by Friday’s drop, making more than 5% for the day.
Here on ibc, I’ll be hammering away at the news and important items to keep note of in the week ahead. Inside Exodus, I will be discussing shop and potential positions, in addition to any new buys or sales. For members, stay tuned for a somewhat controversial blog post inside Exodus today.
It should be a delightfully harrowing week.
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Most excellent winship Monsieur Fly. Am I deranged, in that I’m starting to like some names in the restaurant sector?
Particularly in the chicken winged focus aforementioned by fly and good weather for corn. wing ..bwld. boja looks like it wants to rip up in front of college football.
now is the time to listen to tin foil dudes. shemitah, strikes 🙂
http://www.maxkeiser.com/2016/06/the-magic-number-7-brexit-collapse-falls-exactly-on-shemitah-date/