Thanks for the chart. You are right that it looks like it could turn over. The MACD looks like it has nowhere to go but down. It will be interesting to see how this plays out.
Well TY… I'm learning more every day, and will share it freely… right or wrong? I hope I learn to get more right then wrong, and we can all profit nicely.
I'm actually bearish. I moved my 401K into 66% “safety plays” and 33% long (from 100%) in December at SPX 1120 because I expected a plunge. I got out of small-caps, commodities, international markets, etc. I rotated into things like PASAX (check the chart — it's still up from where I got in on Dec. 24th, if you include the dividend), bonds, health care (which hasn't worked so well), etc.
What do we need to get new highs? Bears (to short squeeze). We ran out of Bears last month at 1150. What do we need to get more Bears? Lower prices and bad news.
I'll be a believer in P3 when I see a 10% down day in AAPL.
RED, I HAVE BEEN READING YOUR BLOG FOR AWHILE. IT APPEARS YOUR STARTING TO GET A LARGER FOLLOWING.IT IS WELL DESERVED.AFTER YOU RING THE REGISTER ON THIS SHORT CALL, WE WILL HAVE TO WAIT IN LINE. GOOD LUCK
That rally up was on such light volume that I couldn't hardly see the bar on my charts. Yet, the sell off was a huge red bar of volume. That was all retail traders buying the rumor of the Greece bailout, while the institutions were selling.
Thanks for the chart. You are right that it looks like it could turn over. The MACD looks like it has nowhere to go but down. It will be interesting to see how this plays out.
I just made a $VIX chart.
http://www.screencast.com/users/dreadwin/folder…
In my opinion, the $VIX is looking short term bearish. The critical things to watch are the RSI trendline and the Slow Stoch.
If that plays out, the indexes go up. No way around it.
Maybe. Volume on SPY was substantial today, and pretty heavy during that rise.
See $VIX chart in other comment.
Thanks Dreadwin – I'm not trying to give you a hard time. I know you know this stuff. I feel better that we are in the same direction for tomorrow.
Well TY… I'm learning more every day, and will share it freely… right or wrong? I hope I learn to get more right then wrong, and we can all profit nicely.
I'm actually bearish. I moved my 401K into 66% “safety plays” and 33% long (from 100%) in December at SPX 1120 because I expected a plunge. I got out of small-caps, commodities, international markets, etc. I rotated into things like PASAX (check the chart — it's still up from where I got in on Dec. 24th, if you include the dividend), bonds, health care (which hasn't worked so well), etc.
What do we need to get new highs? Bears (to short squeeze). We ran out of Bears last month at 1150. What do we need to get more Bears? Lower prices and bad news.
I'll be a believer in P3 when I see a 10% down day in AAPL.
RED, I HAVE BEEN READING YOUR BLOG FOR AWHILE. IT APPEARS YOUR STARTING TO GET A LARGER FOLLOWING.IT IS WELL DESERVED.AFTER YOU RING THE REGISTER ON THIS SHORT CALL, WE WILL HAVE TO WAIT IN LINE. GOOD LUCK
That rally up was on such light volume that I couldn't hardly see the bar on my charts. Yet, the sell off was a huge red bar of volume. That was all retail traders buying the rumor of the Greece bailout, while the institutions were selling.
That's not bullish by any means…
Next week could very well go up into opx rrman. But, I think a huge sell off is come first. Down this week, and then back up next… is very possible.
I don't doubt it.