The perfect low-risk point to buy stocks was today.
I had been sharing the oversold and bearish condition in the market through tweets and YouTube videos. And I mentioned that one might wait for enough bullish signals before buying stocks.
That day with sufficient bullish signals has come today, 3rd Oct 2022. Here are the #CUE signals from the 360 analysis.
Sector-industry-stock advance-decline breadth was so bullish today that not only 1-day but even 2-day and 5-day periods turned green.
All sectors are up over 1-day and 2-day periods. And today, nine of the eleven sectors went up by more than 2%. This very bullish move came in an oversold market.
The daily technical breadth was also bullish across all categories. Bullish headwind % came at a mammoth 7.2% Most bullish signals came at Price Extreme Low. That was an optimal time to buy stocks.
The weekly technical breadth also turned bullish. And it has 2.3% bullish headwinds. That is more than the 1% threshold that signals reversal buying opportunities in a down market.
#CUE Market Breadth Total View shows an Accumulation Day in an oversold market. And notice that it did not have a Eureka day. Remember I mentioned earlier that the #CUE Accumulation is an early (yet accurate) signal to start buying stocks than a Eureka day and a CANSLIM follow-through day).
A few days ago, the market went up but was below Memory trendline resistance. That was not time to buy. What about today? Today was different. Three of the four market ETFs, $SPY, $QQQ, and $DIA displayed a bullish Headwind reversal signal at the bottom. $SPY and $DIA broke above the Memory resistance trendline.
With that kind of bullish market at the bottom, it was a day to find fundamentally strong stocks in solid industries with low-risk #CUE buy setups and buy a few while maintaining position sizing. You could easily find such trades using the #CUE systems in real-time and take the positions before the market close.