Thursday Update: Turning Back Up?

After 8 years of a relentless bull market, we shouldn't be surprised when the market turns back up after signaling short.  As the result of a 250 point decline on August 17th, one blamed ostensibly on Kim Jong-um, the DJIA issued an intermediate term sell signal. That sell only saw about 50 more points of follow-through, despite additional bellicose threats from KJ. 

I'm sending this out before today's close, so the pending Buy is not yet confirmed, but a DJIA/SPY Buy Signal will be generated on a DJIA close today of 22,192 or higher (thats +34 above Wednesday's close). If triggered, exit all bearish ETF's (the SPY puts have already been stopped out) and go long the market with bullish ETF's (SPY, DIA, SSO, QLD, TNA) or the SPY November $251 calls. 


Bitcoin and GBTC are getting hammered. Fortunately, we will stopped out of GBTC on September 8th. Note the Long stop on the table below. We will be going back Long when GBTC closes above that level.