Looks like a "wait" signal. – Ilene
Courtesy of Allan
This pretty much sums up the dilemma of financials, the GS fallout triggered shorter-term sells, but the weekly trend is still up, over 60% gains from last year’s Buy signal. One of these charts will reverse trends and that reversal will be a heads-up for new positions.
Allan’s newly launched newsletter, “Trend Following Trading Model,” goes with the trend-following trading system he’s been working on for years. Most trades last for weeks to months. Allan’s offering PSW readers a special 25% discount. Click here. For a more detailed introduction to the Trend Following Trading Model newsletter and trading system, read this introductory article.