TNA opened down 1.8%, and the opening gap was not filled. TNA was down 1.7% at it’s high, and closed down 5.8%.
An earlier gap from $56.70 to $57.39 was filled today. A gap from today from $58.98 to $60.04 remains unfilled.
We are now in a New Moon Trade, which tends to favor TZA. The new moon was today, at 12:30PM eastern. AmericanBulls had TNA with a Hold today, and TNA was down, so there may be a possible sell on TNA for tomorrow. The TNA buy was at $55.66. TNA closed at $56.52, up 1.5% from the buy. AmericanBulls had TZA with a Wait, and TZA was up today, so there may be a possible buy on TZA for tomorrow.
Volume for TNA today was about 30% above normal.
$RVX (VIX for $RUT) closed up 10.3% with TNA down 5.8%. No divergence.
TNA had been down 4 days in a row, then up 3 days, now down two days. Neutral for TNA.
The low for TNA was from six days ago at $42.29. Today’s low was $54.25, 28% higher. Good for TNA.
Today, Ultimate Oscillator for TNA fell from 56.04 to 55.95 (0.09) while TNA fell 5.8%. A divergence. Good for TNA.
MACD fastline is below zero and falling. MACD slowline is above zero and falling. Not helpful for TNA.
Bollinger Bands for $RVX (VIX for $RUT): Today, $RVX gapped up and had a white candle about mid way between the upper Bollinger Band and the bar of yesterday. MACD fast line was rising today. The fast line is still rising. Not helpful for TNA.
Bollinger Bands for $RUT: Today, $RUT had a red candle that fell away from the 20day moving average and closed below the 50day moving average. MACD appears to be falling. Not good for TNA.
NYSE down volume was 21 times the up volume today – Good generally for TNA, with a 1-day delay — so maybe next Tuesday.
TNA had a lower high & lower low & lower close (not good for TNA)
Money flow for the Total Stock Market: $ 858 million flowing into the market 2 days ago. $ 270 million flowing into the market yesterday. $ 2,900 million flowing out of the market today. Not good for TNA.
I will post the AmericanBulls candlestick interpretation a bit later. Overall, bad for TNA for tomorrow.
Oscillators are not to be used alone. Various lenght of osc should be combined with various lenght trendfollowing indicators. Only rookies use osc on a standalone basis.
If you are interested in rolling your own, go to traders.com and search under George Reyna. He wrote an article several years ago that will allow you to plot your own version of containment lines. This is a variant Paul Levine's work from many years ago. Unfortunately he passed away before it gained mass acceptance. George sent me the software years ago and I lost it during a PC crash. It was crude and manual. I remember the concept though.
LOL! Agree with you there for sure! Thats because most folks do not understand the math behind the oscillators.
Even a simple one such as the RSI. I have pointed this out several times on the ETF corner. The RSI is nothing more than a diffusion index. A 14 day RSI will cross 0 at the same point as price crosses the 28 Day EMA.
A great amount of capital will be re-distributed next week The general opinion has been growing all week among the “investment” community that the lows are firmly in & we are off to news highs The thesis among the “investing” gurus is a spike in their handy dandy oscillator & every time this oscillator reached this level the market always put in its low.
*IF* the “investing gurus” are correct, then the higher low was put in today http://www.flickr.com/photos/47091634@N04/46074… the precise low today corresponded to the TL that held the SPY during Jan. 2010 highs
I don't make decisions based on oscillators, I follow Rituals. There is a weekly setup that has been providing downward pressure on the market & IMO will continue to until it is completed.
Should at anytime next week the $SPX take out todays lows then things ought to get interesting. Here is a Navigational tool should that happen http://www.flickr.com/photos/47091634@N04/46068… Containment levels yellow/dark purple: 1120's light purple/blue: 1070's burgundy: 1020's white: 1010's green (last containment pt.): 980's
TNA opened down 1.8%, and the opening gap was not filled. TNA was down 1.7% at it’s high, and closed down 5.8%.
An earlier gap from $56.70 to $57.39 was filled today.
A gap from today from $58.98 to $60.04 remains unfilled.
We are now in a New Moon Trade, which tends to favor TZA. The new moon was today, at 12:30PM eastern.
AmericanBulls had TNA with a Hold today, and TNA was down, so there may be a possible sell on TNA for tomorrow. The TNA buy was at $55.66. TNA closed at $56.52, up 1.5% from the buy.
AmericanBulls had TZA with a Wait, and TZA was up today, so there may be a possible buy on TZA for tomorrow.
Volume for TNA today was about 30% above normal.
$RVX (VIX for $RUT) closed up 10.3% with TNA down 5.8%. No divergence.
TNA had been down 4 days in a row, then up 3 days, now down two days. Neutral for TNA.
The low for TNA was from six days ago at $42.29. Today’s low was $54.25, 28% higher. Good for TNA.
Today, Ultimate Oscillator for TNA fell from 56.04 to 55.95 (0.09) while TNA fell 5.8%. A divergence. Good for TNA.
MACD fastline is below zero and falling. MACD slowline is above zero and falling. Not helpful for TNA.
Bollinger Bands for $RVX (VIX for $RUT): Today, $RVX gapped up and had a white candle about mid way between the upper Bollinger Band and the bar of yesterday. MACD fast line was rising today. The fast line is still rising. Not helpful for TNA.
Bollinger Bands for $RUT: Today, $RUT had a red candle that fell away from the 20day moving average and closed below the 50day moving average. MACD appears to be falling. Not good for TNA.
NYSE down volume was 21 times the up volume today – Good generally for TNA, with a 1-day delay — so maybe next Tuesday.
TNA had a lower high & lower low & lower close (not good for TNA)
Money flow for the Total Stock Market:
$ 858 million flowing into the market 2 days ago.
$ 270 million flowing into the market yesterday.
$ 2,900 million flowing out of the market today.
Not good for TNA.
I will post the AmericanBulls candlestick interpretation a bit later.
Overall, bad for TNA for tomorrow.
Oscillators are not to be used alone. Various lenght of osc should be combined with various lenght trendfollowing indicators. Only rookies use osc on a standalone basis.
Thanks, Gere, I'll bookmark that and study it further at a time when my wife has not had so much of the stock market. 🙂
I hope he trades somewhat.
If you are interested in rolling your own, go to traders.com and search under George Reyna. He wrote an article several years ago that will allow you to plot your own version of containment lines. This is a variant Paul Levine's work from many years ago. Unfortunately he passed away before it gained mass acceptance. George sent me the software years ago and I lost it during a PC crash. It was crude and manual. I remember the concept though.
Happy hunting!
LOL! Agree with you there for sure! Thats because most folks do not understand the math behind the oscillators.
Even a simple one such as the RSI. I have pointed this out several times on the ETF corner. The RSI is nothing more than a diffusion index. A 14 day RSI will cross 0 at the same point as price crosses the 28 Day EMA.
For those that doubt, plot it out!
Or, do the math 🙂
Thanks for the update Sun…
Have a good weekend, and we'll see you Monday.
P.S. I've enjoyed the extra pictures… lot's of happy people.
🙂
A great amount of capital will be re-distributed next week
The general opinion has been growing all week among the “investment” community that the lows are firmly in & we are off to news highs
The thesis among the “investing” gurus is a spike in their handy dandy oscillator & every time this oscillator reached this level the market always put in its low.
*IF* the “investing gurus” are correct, then the higher low was put in today
http://www.flickr.com/photos/47091634@N04/46074…
the precise low today corresponded to the TL that held the SPY during Jan. 2010 highs
I don't make decisions based on oscillators, I follow Rituals. There is a weekly setup that has been providing downward pressure on the market & IMO will continue to until it is completed.
Should at anytime next week the $SPX take out todays lows then things ought to get interesting.
Here is a Navigational tool should that happen
http://www.flickr.com/photos/47091634@N04/46068…
Containment levels
yellow/dark purple: 1120's
light purple/blue: 1070's
burgundy: 1020's
white: 1010's
green (last containment pt.): 980's
Have a great weekend!!!!!!!!!
It's amazing, how they squirt buys and sells to move around like astronauts with the gas jets.
Not a chance!