Friday, November 21, 2008
Quite a day. Quite a week. Quite a decade! Nice bounce back above the 2002 lows for the S&P 500. Could this be the bottom? Don't know, but you can bet there are a bunch more surprises awaiting. The three-month T-Bill chart still looks like a horror show. Just updated my latest signals table based on this afternoon's Commitments of Traders data. A lot of new signals this week (bullish copper and banks - the latter with a one-week trade delay - cash for crude oil and bearish for the 5-Year Treasury). I'll be ignoring the copper signal because of my Highly Correlated Markets Rule. (See more on that here.) I'll post a lengthier update early next week. Have a relaxing weekend.