Trading with an Edge
Despite the price action, when we review the breadth charts, it is still telling us that this market is not done going up. We really thought yesterday was going to rally. It didn’t and instead, came down to one of our key support areas, 1336.
Our Zweig took quite a bit of damage:
The CVI not so bad:
We like how the 50 DPI held up for the bulls:
As did the NH/HLs:
And the trenders remind us “BULL ON”:
Tom Malone, born in the Midwest, started trading corn futures in the '70s and then went to work with Metropolitan Life Insurance before entering postgraduate work in Florida. His interest in trading deepened when he was given the rare opportunity to work with the legendary Dr. Martin Zweig and the famous Zweig Forecast for two years. To this day, the Zweig Forecast is renowned as the best newsletter in history, and we all mourn the recent loss of Dr. Zweig. Tom's trading has been broad with experience in every commodity traded, but his love is the U.S. stock market and stock picking and market timing. His calls on the market are legendary and in 2007 he was called "the greatest short-term market timer of our generation" by Mike Burk. who has seen tens of thousands over the years. More recently Tom got the trading group leveraged long on Oct. 4, 2011, for the launch of an epic bull run and what may be a new secular bull market. He also runs several unique trading programs that have helped many beat the market.
