You are currently browsing the The MPT Rating weblog archives for the day 27. June 2008.
27. June 2008 by admin.
Friday,
The larges single day MPT Rating (Showing Smart Money Accumulation) we have ever seen!
The DJIA; which is already oversold as an average is now trading below the January and march lows and now has an RSI indicator of 22.43 and a close below the lower BB line, down 106 points for the day but the oversold conditions should have investors in buy mode here.
The NASDAQ; lost 5 points today, and filled the second gap we have been monitoring on the chart for the past few months… this is an improvement to the overall long quality of this market, and with the radical MPT Rating we know smart money is buying, but they are also letting the market slide as weak hands unload stocks over the summer months and that is when we need to be buying selective quality stocks in anticipation of the next rally.
Today’s MPT (Market Power Trend) Rating, which tells us what “Smart Money” is doing in the market today and what to expect with the overall market tomorrow, came in at (40) and this is the broadest based buying frenzy we have ever seen, and we do look for a strong bull bounce in the overall markets in the near future.
As always I recommend investors and traders, be smart, patient, and ever successful.
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