Not a good sign for the Contrarian Markets...
Originally Posted by
KVB
The broader KVB MLB Contrarian Fund, which I haven't been tracking at SBR has a triggered a few teams so I'll throw them out there so you can compare to your own handicapping...
Was -120, TB +108 and ATL +101...
All three of those plays lost and so did the Backbone plays...
Said this on May 8th when the chart looked like this...
Originally Posted by
KVB
...
It's looking more and more like we are at least rangebound and another successful test back to 0 units with a bounce up would be a very good sign. But we don't have to get there, +2 units could be the bottom of the range...
...
We broke through the +2 and are testing the 0...
We are also getting dangerously close to that SMA 100.
If we keep falling I've drawn some red lines across the chart to show a longer term set of support and resistance. Might be time to go back further in the chart to get an even bigger picture.
As of now, we are still in a Buy Signal with the SMA 10 above the SMA 20 but really testing the market here.
Could be that the very next play is a winner. Even so, I'm waiting for confirmation before moving bigger assets back into the Fund.
(As always, the yellow highlight is where I said we could go sideways to down and the pink dot is where I said we could lose -6 units.)