Published : March 17 2011 at 12:46 ET

JJS is issuing a pocket pivot, provided it stays strong relative to the general market. This was recommended on the prior buy signal, then the model issued a neutral signal as the fail-safe kicked in. That said, those who kept their JJS can use an intraday move below yesterday's low as a sell stop as this would be a violation of its 50 day moving average. Those who sold their JJS might reinitiate their position.

Since the day is not yet over, there is only a small chance the potential pocket pivot seen in JJS may not qualify. As a rough guide, if the market closes up, JJS should close in the top half of its trading range at the very minimum. If the market closes near the low of its trading range, or is down for the day, JJS should still close roughly in the top 2/3 to 1/2 of its trading range. It's relative.

Note, it appears JJS has an error in its data feed across all real-time data services so its high is currently at 89.14, not 92.95.


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