I spent some time looking at the weekly charts and to state the obvious...there was nothing pretty to look at. The whole market mess is going to take some time to work out. In the meantime it is probably best to simply follow the charts and see what develops. The situation of widespread carnage makes it difficult to find any promising situations. It is very much a problem of trying to swim upstream. Best to keep the powder dry, look for good situations and keep the faith.
SLW again as it moved up from the support level. Would like to see it remain above the 81 period moving average. An expansion of the contracted moving averages would also be positive. See what happens.
The chart of PALM is an example of the green up alert with a positive outcome. Good things still can happen even when it all looks bad.
This is not a recommendation to buy or sell these stocks. Due diligence is your responsibility. If you need professional investment advice then find a professional.
Thank you for your time.
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Charts courtesy of Wealth-lab.com.
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