NASDAQ COMPOSITE 8103.07 + 1.76%
Market Performance
This will be a shortened post, as the market has risen two weeks in a row and has finally taken out the horizontal trading range to the upside (see chart below). There is not much to report except this breakout.
Indicator #8 issued a BUY signal on September 30, resulting in a BDH maximum “4” BUY signal. Refer to the chart on the next page.
It took 22 days for the NASDAQ to break out of its trading range box shown above. The next price objective is 8339 which was reached on July 26 and is only 2.9% away. This past week the major averages advanced about 1.75% on average. The eftscreen.com list of our ETFs had 8 “fails” and 36 “passes” and excellent performance.
This past week had 412 new 52-week NYSE highs vs. 392 the prior week, and the number of new lows shrank to 136 from 310. Another positive was the 52.3% of NYSE stocks above their 50-dmas which rose from 37.7% last week. The BDH strategy is ranked 12th on www.dark-liquidity.com from 14th the prior week. Here are two links to check out:
www.dark-liquidity.com/index.php/strategies
https://www.etfscreen.com/buydonthold/bdh-decision-page.php
The BDH strategy remains 100% invested in its five ETFs –XLP, PDP, XLY, XHB, QQQ. The portfolio is up 5.67% YTD compared to 14.88% for the DJIA, 18.82% for the S&P 500, and 22.12% for the NASDAQ Composite.
There is no guarantee that the market will make new highs, so make sure you use a defensive approach to protect your principal in case the market goes the other way. We still have another 6 weeks until November and this upcoming next six weeks could be very volatile.
Interim updates are sent to subscribers during the week, as needed. Any subscriber who has recently sent in a payment and has not received this regular blog today should email me at lesmasonson@yahoo.com so I can check my records and correct any oversight.
Remember that you are responsible for your investments and how you manage them. This website was developed for educational purposes only and is not responsible for any actions you take with your investments. If you decide to follow the BDH strategy, then you are 100% responsible for your investment outcome. Make sure to check the BDH indicators daily during times when the market is volatile like now. Just bookmark the charts above and look for any signal changes. I may not available during the week to provide interim Dashboard signal changes. It is important to be pro-active, so as not to miss any Dashboard signals. Decide on and place your stop LIMITS, if you use them, that meet your own risk profile.
