Monday, 3 January 2011
Banks, Nikkei Turn Bearish
Happy New Year! Hope you had a great holiday and that you have a healthy, happy 2011 filled with good fortune. What an interesting slew of new signals to report on my newly updated latest signals table.
Today's holiday-delayed Commitments of Traders report from the CFTC gives some bearish warnings for the beginning of the year.
My setups for the BKX U.S. Bank Index and the Nikkei both went from cash to bearish for this week's open of trading. (I'll execute those trades for tomorrow's open.) Also, my setup for gold has gone from bullish to cash. My crude oil signal remains bearish for two more weeks, while my setup for the 30-year Treasury bond is still bullish, as is natural gas.
Good luck this week and through the coming year! Be sure also to tune back in tomorrow (hopefully!) for a portfolio update.