After Two Weeks of Bearishness, Models Have Returned To Neutral

Greetings from the cool climate of the north!

Coming into last week bearish was a boon for NASDAQ traders.  I personally helped close five up-gaps on the week, securing my freedom from the cubicle for another couple of months.  But alas, our market edge has expired and now we are back being neutral.  Which is fine.  August is the Sunday of months.  You know summer is coming to an end, but it is still the weekend so soak it in.

Ironically enough, and much to the chagrin of the Old Testament, I work hardest on Sundays.  Therefore, I shall also work hardest in August. The 31 days of August serve as an opportunity to race ahead of your competition.  What project can you pushing over the finish line these next 25 days?

Conversely, the markets are not working hard.  In fact, they are drifting along in quite the lazy manner.  With a neutral bias, my only intention is to scalp my price levels.  Time away from the markets will be spent retooling my office and updating the statistics behind my trades.

There are subtle cues inside Exodus that suggest sellers may continue being the dominate force on the NASDAQ until Wednesday.  If, during the early days of next week sellers manage to make a substantial push lower, I may be inclined to reassert my focus to short selling the futures market.

Models are neutral.  The edge I carried into the last two weeks with the help of IndexModel has abated, and August grind is upon us.  You have 25 days left.  Go forth and hustle lads, they will wonder how you have come so far.

Augusto

Exodus members, the 143rd Edition of Strategy Session is live.  Go check out why we think selling pressure may continue through Wednesday.

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