I see the buy signal from last week as a significant one- indicating an IT advance is underway- scary pullbacks like yesterday's notwithstanding. I remain a buyer of weakness for reasons explained yesterday.
Just a point of order. Carry on.
![;)](https://www.traders-talk.com/mb2//public/style_emoticons/default/wink.png)
Following are the Seven Sentinels. Time doesn't permit me to post the rules right now, but I will try to do so tomorrow if possible. The rules have "evolved" a bit over time, so that I believe that they give less frequent but more reliable signals than in the early days. Their essence is simplicity. They are not meant to be a "silver bullet" or the "holy grail", nor have I ever claimed them to be. But rather, they are just a tool - just one trader's best effort to define the prevailing direction of market momentum. My central premise of trading is that price follows momentum, so the application for trading should be apparent. At any rate, they work well for me, in conjunction with a number of other tools which tend to keep me grounded with regard to the ever important and evolving "context" of the market.
One final note: the current "buy signal" configuration is one of the best I've seen in a long long time. This may say more, however, about the durability of what I strongly believe to be the IT rally underway, than the ultimate amplitude of that move.
Good trading all, D
http://stockcharts.com/c-sc/sc?s=$TRINQ&p=D&yr=0&mn=6&dy=0&i=p91351991372&a=132242060&r=5671.png
http://stockcharts.com/c-sc/sc?s=$TRIN&p=D&yr=0&mn=6&dy=0&i=p81980886219&a=132242143&r=5289.png
http://stockcharts.com/c-sc/sc?s=$NAMO&p=D&yr=0&mn=6&dy=0&i=p19594754399&a=132241851&r=7973.png
http://stockcharts.com/c-sc/sc?s=$NYMO&p=D&yr=0&mn=6&dy=0&i=p26405502349&a=132240665&r=2149.png
http://stockcharts.com/c-sc/sc?s=$NAHL&p=D&yr=0&mn=6&dy=0&i=p10831498101&a=132242597&r=3475.png
http://stockcharts.com/c-sc/sc?s=$NYHL&p=D&yr=0&mn=6&dy=0&i=p09668266403&a=132243114&r=7420.png
http://stockcharts.com/c-sc/sc?s=$BPCOMPQ&p=D&yr=0&mn=6&dy=0&i=p96303392716&a=132243312&r=5145.png
xxxx