SPY currently has 3 consecutive gap downs, making it highly probable for a flat open or gap up tomorrow
bull structure remains intact after the $SPX danced with the 1176 area where max contain was @ on the 60 min. Given the amount of pressure building on that containment pt. it will likely be gapped below should the downward thrust be initiated.
It looks to me that the operators want a flat close for the week, $SPX 1180 ish?
Tomorrow is the 911th day after 10.11.2007 $SPX ATH if you remember I pointed out the closing $DJI & $SPX numbers yesterday $DJI -72.47 = -9.11 $SPX-6.99 = -6.66 tomorrow is 4.9.2010 4*9=36 Sum 1:36=666 Co-relational Date : Value
TNA yesterday went from a hold to a low reliability SELL-IF signal. Today did not resolve that signal, so the SELL-IF extends to tomorrow. The TNA buy was at $56.50. TNA closed at $59.43, up 5.2% since the buy. The candlestick today High Wave (a great amount of indecision in the market). The last two candlesticks yesterday formed a low reliability Bearish Harami Pattern.
TZA 2 days ago had a highly reliable SELL-IF, but got no confirmation so the SELL-IF was extended by one day to today, but failed to confirm today so is cancelled.
However, the TZA today has a new, not very highly reliable SELL-IF signal. The candlestick for today was Black Spinning Top. The candlesticks for the past two days form a not very highly reliable Bearish Meeting Lines Pattern. The TZA buy price was $7.04. TZA closed today at $6.51, down 8.1% since the buy.
Two recent TZA Buy signals have failed and may perhaps serve as a warning: Buy at $7.33, sell at $7.14 Buy at $7.11, sell at $7.05 Buy at $7.04, now down 8.1%
For that matter, recent TNA Buy signals (until this last one) have also been uninspiring: Buy at $55.36, sell at $55.43 Buy at $55.69, sell at $55.63 Buy at $56.50, up 5.2%
Summary of $RUT based ETFs & a few popular ETFs & stocks (Market positive): +3 Hold: GOOG(up 0.1%), GS(up 3.8%) New Confirmed BUY: AMZN
Transition to Market Positive: +3 Highly Reliable BUY-IF(2nd day): ERX(3x energy) Not Very Reliable SELL-IF: TZA (-3x, down 7.5%) Highly Reliable BUY-IF: SPY
Transition to Market Negative: -14 SELL-IF (2nd day): UCO (2x oil) Low reliability BUY-IF(2nd day): DRV(-3x), SRS(-2x), RWM(-1x), TWM(-2x) Low reliability SELL-IF: DRN(3x), QQQQ, IWM(1x), UWM(2x), TNA(3x), URE(2x), IYR(1x) Not Very Reliable SELL-IF: DIA BUY-IF: ERY(-3x energy)
Market Negative: -3 New Confirmed Sell: AAPL Hold: DTO(-3x oil, down 12.7%), SCO (-2x oil, up 2.4%),
Comment: Bearish overall, Bearish Oil & Energy, Bearish $RUT, Bearish Real Estate Action for tomorrow: Possible Sell of TZA, Possible Sell of TNA
TNA opened down 0.9%. Monday’s gap from $55.95 to $56.03 was not filled. Today’s gap was filled. TNA was up 1.2% at the high, and closed down 0.17%.
We are now in a Full Moon Trade, which tends to favor TNA. AmericanBulls has TNA with a Confirmed Buy signal yesterday. This trade bought TNA at $56.50, and closed today at $59.45, up 5.2%.
Volume for TNA today was about average for the past 22 days.
$RVX (VIX for $RUT) was up 0.5 % today with TNA down 0.17%. No divergence.
TNA has now been up 5 of the last 11 days. Chop generally. Hard to read.
The high for TNA yesterday was $60.58, the highest TNA price since November of 2008. The high today was $60.26, off 0.5% from that high.
Ultimate Oscillator for TNA rose from 58 to 60 today on a down day, a divergence. A reading of 60 is Good for TNA.
MACD on the monthly chart crossed over to the upside 3 days ago and has been flat since. Mildly good for TNA.
Bollinger Bands for $RVX (VIX for $RUT): today’s black candle touched the mid Bollinger line and closed below that line. MACD seems to be topping. Looks like $RVX might rise tomorrow. Bad for TNA.
Bollinger Bands for $RUT: Today’s white candle for $RUT closed below the top Bollinger Band. It looks like $RUT may be topping. MACD may be working back up. Hard to read, but may be bad for TNA.
Bollinger Bands for $RUT:$RVX ($RUT vs VIX for $RUT): today’s doji candle closed below the upper Bollinger Band, after a close two days ago above that band. The upper Bollinger Band is rising. Looks like we are near a top for $RUT. Bad for TNA, but maybe not right away.
TNA had a lower high, lower low and slightly lower close – Bad for TNA.
Money flow for the Total Stock Market was $835 million flowing out of the market. Bearish – Bad for TNA.
I will post the AmericanBulls candlestick interpretation a bit later.
Overall, it looks bad for TNA soon, perhaps tomorrow.
I saw that IYT set a new rally high today. I'm not sure this thing is done, yet!
No doubt about it!
SPY currently has 3 consecutive gap downs, making it highly probable for a flat open or gap up tomorrow
bull structure remains intact after the $SPX danced with the 1176 area where max contain was @ on the 60 min. Given the amount of pressure building on that containment pt. it will likely be gapped below should the downward thrust be initiated.
It looks to me that the operators want a flat close for the week, $SPX 1180 ish?
Tomorrow is the 911th day after 10.11.2007 $SPX ATH
if you remember I pointed out the closing $DJI & $SPX numbers yesterday
$DJI -72.47 = -9.11
$SPX-6.99 = -6.66
tomorrow is 4.9.2010
4*9=36
Sum 1:36=666
Co-relational Date : Value
Looks like we might reach that SPY 119.35 #. Let me know if we get any other “fake” prints.
Is red containment slightly higher now or is it still 117.60?
Hi Anna! Hope you at least enjoyed your vacation?
Thanks, Earl.
The Daily view from Americanbulls
TNA yesterday went from a hold to a low reliability SELL-IF signal. Today did not resolve that signal, so the SELL-IF extends to tomorrow. The TNA buy was at $56.50. TNA closed at $59.43, up 5.2% since the buy. The candlestick today High Wave (a great amount of indecision in the market). The last two candlesticks yesterday formed a low reliability Bearish Harami Pattern.
TZA 2 days ago had a highly reliable SELL-IF, but got no confirmation so the SELL-IF was extended by one day to today, but failed to confirm today so is cancelled.
However, the TZA today has a new, not very highly reliable SELL-IF signal. The candlestick for today was Black Spinning Top. The candlesticks for the past two days form a not very highly reliable Bearish Meeting Lines Pattern. The TZA buy price was $7.04. TZA closed today at $6.51, down 8.1% since the buy.
Two recent TZA Buy signals have failed and may perhaps serve as a warning:
Buy at $7.33, sell at $7.14
Buy at $7.11, sell at $7.05
Buy at $7.04, now down 8.1%
For that matter, recent TNA Buy signals (until this last one) have also been uninspiring:
Buy at $55.36, sell at $55.43
Buy at $55.69, sell at $55.63
Buy at $56.50, up 5.2%
Summary of $RUT based ETFs & a few popular ETFs & stocks (Market positive): +3
Hold: GOOG(up 0.1%), GS(up 3.8%)
New Confirmed BUY: AMZN
Transition to Market Positive: +3
Highly Reliable BUY-IF(2nd day): ERX(3x energy)
Not Very Reliable SELL-IF: TZA (-3x, down 7.5%)
Highly Reliable BUY-IF: SPY
Transition to Market Negative: -14
SELL-IF (2nd day): UCO (2x oil)
Low reliability BUY-IF(2nd day): DRV(-3x), SRS(-2x), RWM(-1x), TWM(-2x)
Low reliability SELL-IF: DRN(3x), QQQQ, IWM(1x), UWM(2x), TNA(3x), URE(2x), IYR(1x)
Not Very Reliable SELL-IF: DIA
BUY-IF: ERY(-3x energy)
Market Negative: -3
New Confirmed Sell: AAPL
Hold: DTO(-3x oil, down 12.7%), SCO (-2x oil, up 2.4%),
Comment: Bearish overall, Bearish Oil & Energy, Bearish $RUT, Bearish Real Estate
Action for tomorrow: Possible Sell of TZA, Possible Sell of TNA
TNA opened down 0.9%. Monday’s gap from $55.95 to $56.03 was not filled. Today’s gap was filled. TNA was up 1.2% at the high, and closed down 0.17%.
We are now in a Full Moon Trade, which tends to favor TNA.
AmericanBulls has TNA with a Confirmed Buy signal yesterday. This trade bought TNA at $56.50, and closed today at $59.45, up 5.2%.
Volume for TNA today was about average for the past 22 days.
$RVX (VIX for $RUT) was up 0.5 % today with TNA down 0.17%. No divergence.
TNA has now been up 5 of the last 11 days. Chop generally. Hard to read.
The high for TNA yesterday was $60.58, the highest TNA price since November of 2008. The high today was $60.26, off 0.5% from that high.
Ultimate Oscillator for TNA rose from 58 to 60 today on a down day, a divergence. A reading of 60 is Good for TNA.
MACD on the monthly chart crossed over to the upside 3 days ago and has been flat since. Mildly good for TNA.
Bollinger Bands for $RVX (VIX for $RUT): today’s black candle touched the mid Bollinger line and closed below that line. MACD seems to be topping. Looks like $RVX might rise tomorrow. Bad for TNA.
Bollinger Bands for $RUT: Today’s white candle for $RUT closed below the top Bollinger Band. It looks like $RUT may be topping. MACD may be working back up. Hard to read, but may be bad for TNA.
Bollinger Bands for $RUT:$RVX ($RUT vs VIX for $RUT): today’s doji candle closed below the upper Bollinger Band, after a close two days ago above that band. The upper Bollinger Band is rising. Looks like we are near a top for $RUT. Bad for TNA, but maybe not right away.
TNA had a lower high, lower low and slightly lower close – Bad for TNA.
Money flow for the Total Stock Market was $835 million flowing out of the market. Bearish – Bad for TNA.
I will post the AmericanBulls candlestick interpretation a bit later.
Overall, it looks bad for TNA soon, perhaps tomorrow.
Carl at day’s end:
1165-1177 estimate for today (12 points)
1171 -1185 actual today (14 points)
Carl was low by 6-8 points today
Trades: no trades today
Grade: C didn’t lose any money