It sure sounds like it when you read the comments from this post. Its a sign that sentiment is worse. I posted earlier today that “Today’s Market Action Will Cause A Level of Apathy Not Seen Since The Great Flood” @ 12:24 pm. The COMPX was trading @ 1716 and ended @ 1633. There is no doubt that people are giving up. As you can see in that post its starting and if this blog was more popular there would probably be more examples of the apathy in the comments section. The indicators definitely trapped me in the long trade that I’m in, but I have been able to profit with the small money in between which happens to be a slight positive. Today was a loss in UYG as are the buys in DRYS, CSIQ, and QLD which I still hold in only 1 account.

Ok now I’m going to post some charts about a indicator reaching a level only seen 4 times since 1973. Some may say this is not enough of a sample set to be reliable, but I’m taking my chances due to the time span of which this signal occurred over.

The key here is that the upside action eclipsed the close on the day the signal occurred. Essentially I will be looking for the same pattern to repeat and to exit my long at that moment and will look to profit even more with the smaller $ in the trading accounts.

Now what this also tells me is that we will probably close out the week on the lows rather than higher which is what lesser indicators were saying before a crash happened. However, this indicator is essentially the final line in the sand that is reliable for a bounce. I’d expect a decent to large percentage move on a week over week basis after this Friday and is the reason why I won’t panic if we get two days of craziness going into Friday. All of this above is in relation to my index fund position, for the trading accounts, they are mostly in cash, but I will look to buy some of those big dividend growth stocks on the next two days of buying opportunities.

Thanks for reading

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