I have spent this weekend updating the model portfolio. Outside of NSU nothing looks broken. We had alot of the stocks hitting their respective blue and red resistance rail and bouncing off instead of pushing through. It’s frustrating to see this happen but what it tells us is that we are still in the consolidation mode. When you look at the model portfolio stocks there are several things I would like you to observe. First is all the big blue consolidation patterns that are over a year in the making for most. Compare them to some of the previous big blue consolidation patterns that you will we see on the chart and how the breakout and backtests worked for them. Also note how many of these big blue consolidation patterns have a red triangle or red bull flag that has been forming toward the, hopefully the end of the blue consolidation patterns. One other thing I did was put a green circle that shows the last 3 weeks of trading since the big fed announcement about keeping interest rates low. The setup was there for a move through the top blue rails of the big consolidation patterns but most have stalled out at that critical spot. Its hard to say at this point what will happen next. We may just keep trading in the big blue consolidation patterns for awhile or make another run to breakout. Stay tuned as I’ll be watching things very close on the future direction of the model portfolio that has a huge potential once everything is aligned to the markets liking.
NOTE : Each of the 23 Model PF Charts has been updated and linked to the Symbol on the right sidebar ….for expedience Subscribers can view each and every one by simply clicking on the stock symbol