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Has the news out of Greece been a good leading indicator per when to adjust your portfolios? Yes…use the bad news out of Greece to go long stocks! (Greece concerns good for stocks) This post took place a couple of days from the market lows.
How about adjusting portfolios based upon a jobs report? Not so easy for me!
One decent leading indicator per the direction of the broad market has been the DJ Trucking Index, over the past 5 years (see quote here) This index is attempting to break above key overhead resistance, while creating a bearish upside wick this week.
Keep a close eye on this index to see if the rally of the last 10 days can “keep on trucking higher!”
The index has not broken down at this time…yet should the DJ Trucking index break down with this large wick, market downside risks/concerns would increase!
cjk…I shared the Trucking index due to how EVERY TIME the trucking index was up against resistance and created a bearish wick, the index and the broad market ran into trouble.
Odd that the Trucking index was creating a large bearish wick and HOG was doing the exact same thing at the same time? I doubt it!
I put the Trucking and HOG wicks back to back, due to how key of a message they have sent in the past and odds are high they are again.
Looks to be at or near “shorter-term” resistance(rising line dating back to 2009?).