The Person's Proprietary Signal (pps) bull phase on Annaly Capital Management (NLY), which I discussed this morning, has disappeared.
The phenomenon is called "ghosting", and it means the conditions that produced the morning signal changed during the day, invalidating the signal.
The pps is particularly prone to this this (so is the fast stochastic and, to a lesser extent, the macd).
The price remains just below the 20-day moving average. It moved above slightly before retreating.
The fast stochastic continues to push upward through neutrality, and the macd is moving toward the zero line. So some bullish elements remain in place. I'll continue to track NLY to see whether it indeed moves to a persistent bull phase or plays Cheshire Cat instead.