The scenario I sketched on Sunday night came true with the market bouncing from oversold. Almost one half of the Nasdaq 100 stocks reached extremely oversold levels on Monday. The GMI did not flash a Sell signal. I bought a few positions that bounced up off of support on Monday and will sell if the bounces should fail. I do not know how far this bounce will go. I just place my bets and exit with a small loss if a stock fails. That is the way to prosper in the stock market–small losses and large gains.
RTN, a recent green line break-out stock, hit an all-time high on Monday.
As did TAP.
And JBT.
