Half the stocks in the NDX are still under accumulation. Bulls should start sweating when that number drops to 1/3 or 1/4.
Detecting some money outflow in several sectors. Foreign stocks are underperforming this rally. This may be a sign to pending market decline. But such divergence can last months. Don't load up on front month puts based on just such divergence. But the divergence signals trouble ahead, as it has done so in the past.
Tech sector remains strong.
No confirmed sell signal yet. However,ETFs investing in foreign stocks are showing weakness across the board. Underperformance is expected to continue. Hence, in Wall Street speak, 'we see better opportunities for higher returns elsewhere.'
TNA has a low reliability SELL-IF (Sell if conditions are right tomorrow morning) signal. The candlestick today was a Black Candlestick (normal selling pressure). The last two candlesticks formed a Bearish Harami Pattern (low reliability trend reversal requiring confirmation).
TZA has a low reliability BUY-IF (Buy if conditions are right tomorrow morning) signal. The candlestick today was a White Candlestick (normal buying pressure). The last two candlesticks formed a Bullish Harami Pattern (low reliability trend reversal requiring confirmation).
I just took another look at the $NYMO chart. It does leave open the possibility still (since we haven't really gotten under the 0 line) that we go higher tomorrow and then chop around. But, if we close lower tomorrow we will definitely continue lower until we get that oversold reading. We don't even have to close lower tomorrow by much. We'll see.
Don't know if I already sent this to you but it compares the 2007 top to today. Corey Rosenbloom truly is unbiased and he is a good analyst. Scroll down to the bottom of the page but all the articles on the page are relevant. http://blog.afraidtotrade.com/
Looking at a two week chart of /NQ and /ES — there is nothing indicating any sort of turnaround. /NQ is up and to the right. /ES has a much more gradual slope, but it's still up and to the right.
Market is going up, and I think $RUT follows along.
I had some TNA after hours, but offered it for sale and someone grabbed it, so I'm back to cash again.
Katzo refers to the MACD action on $RUT as a “porpoise snout” (well, he was talking about some other symbol, but if you look at the MACD you'll know what I mean). According to Google, he's the only one who describes it this way. It means that a breakdown is coming, just “not yet”. We are in day 3 of “porpoise snout” — maybe time to roll over? Based on this completely untested indicator, $RUT is red tomorrow.
TNA has a low reliability SELL-IF (Sell if conditions are right tomorrow morning) signal. The candlestick today was a Black Candlestick (normal selling pressure). The last two candlesticks formed a Bearish Harami Pattern (low reliability trend reversal requiring confirmation).
TZA has a low reliability BUY-IF (Buy if conditions are right tomorrow morning) signal. The candlestick today was a White Candlestick (normal buying pressure). The last two candlesticks formed a Bullish Harami Pattern (low reliability trend reversal requiring confirmation).
Look at dem apples! http://stockcharts.com/h-sc/ui?s=$nymo Just below the zero line. Suppose we could have a slight bounce but looks like direction is now down from here at least until we get to a -70 or so reading.
Half the stocks in the NDX are still under accumulation. Bulls should start sweating when that number drops to 1/3 or 1/4.
Detecting some money outflow in several sectors. Foreign stocks are underperforming this rally. This may be a sign to pending market decline. But such divergence can last months. Don't load up on front month puts based on just such divergence. But the divergence signals trouble ahead, as it has done so in the past.
Tech sector remains strong.
No confirmed sell signal yet. However,ETFs investing in foreign stocks are showing weakness across the board. Underperformance is expected to continue. Hence, in Wall Street speak, 'we see better opportunities for higher returns elsewhere.'
The Daily view from Americanbulls
TNA has a low reliability SELL-IF (Sell if conditions are right tomorrow morning) signal. The candlestick today was a Black Candlestick (normal selling pressure). The last two candlesticks formed a Bearish Harami Pattern (low reliability trend reversal requiring confirmation).
TZA has a low reliability BUY-IF (Buy if conditions are right tomorrow morning) signal. The candlestick today was a White Candlestick (normal buying pressure). The last two candlesticks formed a Bullish Harami Pattern (low reliability trend reversal requiring confirmation).
Summary of $RUT based ETFs:
Hold: IWM (1x)
SELL-IF: UWM (2x), TNA (3x) (Bearish Harami)
BUY-IF: RWM (-1x), TWM (-2x), TZA (-3x) (Bullish Harami)
Action for tomorrow: Possibly sell TNA, possibly buy TZA
How you doing?
Not so good.
What happened?
I was trading from a 2007 chart.
Really?
Yeah. It went down in 2007, so I shorted it.
You shorted it now, because it went down in 2007?
Yeah.
Did it go down?
Well, yes. It went down. In 2007.
I mean now. Did it go down?
No, not really. Kind of went up.
Weird.
Yeah. Weird.
What is really strange is that AH futures have been so quiet lately.
I just took another look at the $NYMO chart. It does leave open the possibility still (since we haven't really gotten under the 0 line) that we go higher tomorrow and then chop around. But, if we close lower tomorrow we will definitely continue lower until we get that oversold reading. We don't even have to close lower tomorrow by much. We'll see.
Don't know if I already sent this to you but it compares the 2007 top to today. Corey Rosenbloom truly is unbiased and he is a good analyst. Scroll down to the bottom of the page but all the articles on the page are relevant.
http://blog.afraidtotrade.com/
Looking at a two week chart of /NQ and /ES — there is nothing indicating any sort of turnaround. /NQ is up and to the right. /ES has a much more gradual slope, but it's still up and to the right.
Market is going up, and I think $RUT follows along.
I had some TNA after hours, but offered it for sale and someone grabbed it, so I'm back to cash again.
Katzo refers to the MACD action on $RUT as a “porpoise snout” (well, he was talking about some other symbol, but if you look at the MACD you'll know what I mean). According to Google, he's the only one who describes it this way. It means that a breakdown is coming, just “not yet”. We are in day 3 of “porpoise snout” — maybe time to roll over? Based on this completely untested indicator, $RUT is red tomorrow.
The Daily view from Americanbulls
TNA has a low reliability SELL-IF (Sell if conditions are right tomorrow morning) signal. The candlestick today was a Black Candlestick (normal selling pressure). The last two candlesticks formed a Bearish Harami Pattern (low reliability trend reversal requiring confirmation).
TZA has a low reliability BUY-IF (Buy if conditions are right tomorrow morning) signal. The candlestick today was a White Candlestick (normal buying pressure). The last two candlesticks formed a Bullish Harami Pattern (low reliability trend reversal requiring confirmation).
Summary of $RUT based ETFs:
Hold: IWM (1x)
SELL-IF: UWM (2x), TNA (3x) (Bearish Harami)
BUY-IF: RWM (-1x), TWM (-2x), TZA (-3x) (Bullish Harami)
Action for tomorrow: Possibly sell TNA, possibly buy TZA
Look at dem apples! http://stockcharts.com/h-sc/ui?s=$nymo
Just below the zero line. Suppose we could have a slight bounce but looks like direction is now down from here at least until we get to a -70 or so reading.