Today, an oversold market bounced after a 2 week intermediate term pullback into strong Money Flow. The market's bullish Power Bar ratio and upward sloping long term (orange) Chaikin trendline make market conditions for me acceptable to consider entering intermediate term bullish trades. XLI (Industrials) has been outperforming the SPY on a 3 and 6 month basis, and it's strongest industry group Aerospace is the second highest rated Power Bar ratio.
Within the Aerospace group, uptrending and Very Bullish DGI pulled back to the midpoint of its price channel over the previous 6 trading days and bounced today. With the market (relative strength) agreeing with Power Gauge, Money Flow persistently green over the last few months, despite some recent weakness, and the OB/OS oscillator giving me a lower risk entry opportunity, this is a stock I'm going to attempt to purchase before the end of the week. I'll set a stop below the 3o Day Moving Average and be willing to take a little short term pain if the pullback continues into the lower part of its channel. I'm this one for at least 3-6 months and hopefully longer.
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