GMI back to 6 (of 6); Buy signal intact–for now


The bounce came after an oversold position with the put/call ratio above 1.   Now I need to wait to see if this is a dead cat bounce or something with legs. IBD still sees the uptrend under pressure and there were more new lows than highs on Monday. The devaluation of the yuan may make it harder for the Fed to raise rates in September. The index futures suggest a weak opening. I remain on the sidelines in cash in my trading accounts.


1 thought on “GMI back to 6 (of 6); Buy signal intact–for now”

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.