The market state as of 2017-09-03
XACT OMXS30 has gained 2,38 % from the last trending low, closing above MA200 at 180,65 at the end of the week. Prices has decreased -5,94 % from the top.
The On Balance Volume shows a reversing trend.
The Market breadth shows that 45,20 % of all stocks are priced over MA200, 32,77 % are priced over MA50 and 44,63 % are priced over MA20.
Price has been increasing sharply for the last 3 days under relative high volume and broad participation. Having the price crossed above MA200 from below and the On Balance Volume crossing above its MA20 is hinting that the pullback may have bottomed. However, the Market Breadth still shows that less than 50 % of all stocks are trading below MA200 and the price has not passed above the last significant high at 183,25.
The Summary Trend Indicator which tracks price, volume, breadth, participation, moving averages and momentum still shows a negative trend.
It has been 7 weeks since I was stopped out at 186,05. Since then I have lost an additional -4,02 % on the current trade due to failed entries and trading mistakes. Faring slightly worse than if I would have stayed fully invested.
The future is unknowable, though there is strong evidence that the trend of decreasing price has been reversed. I am patiently waiting for more confirmation of a positive trend before I start to take any position.