By Markus Heitkoetter
Stocks spent the day in negative territory, wrapping up the session with a convincing sell off. The S&P ended the day 13 points lower. This was the lowest close for the S&P since August 22nd.
The DOW closed 97 points lower with the biggest point loss since August 5th.
The Power Crossover Method has been overwhelming bullish over the last few weeks. With today’s move we have signals to close 7 long positions tomorrow and 4 possible sell signals in the DOW 30.
Is this a turning point for the markets?
Gold (GC) continue it’s march lower today ending the session at $1248.5. Gold has been in a downtrend since 20th Aug 2014 with pressure from a strong dollar. The move today was enough to take out our ADR Power Crossover Method Profit Target at $1251.7.