Greetings and hello from the battery room inside Exodus. All systems are calibrated, the furnaces are filled with coal, and the cogs greased. Upon incorporating the data generated last week by billions of dollars’ worth of trades into the working auction theory model, a bullish signaling was generated.
If you recall, the model ran bullish for four consecutive weeks, then flipped neutral last week. Now it is firmly entrenched in the bull camp, prepared to saunter higher at an aloof rate while underlying stocks occasionally explode higher.
Interestingly, as Fly noted yesterday, Exodus is dialed into the market well right now—spotting its opportunity in a flawless manner. Had you simply adhered to the signalling inside Exodus, you wouldn’t have grown skeptical of the market last week, like me.
However, and in part thanks to the hybrid scoring system inside Exodus, my foray into shorting the market last week came to a sudden end Thursday when the bull snorted and heaved higher.
The only problem is I raised come cash on Monday. Said funds will need to be reallocated. This will not be easy at these elevations.
Slowly.
iBC Labs is back to bullish heading into OPEX week. Look for a shakeout early on, but by Wednesday bulls assert their dominance.
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