That doesn't mean that we still won't sell off Monica. Many other charts did hit their de-leverage points as Sun mentioned. I don't know how far we sell off, but I expect some selling in the next couple of weeks.
Thanks Red for the post and for the zero hedge article. Hopefully the fed raises the discount rate Monday. On another note, looks like last print in XLF is now showing 16.08 – bad for us bears I guess in the long term. I would expect a big move lower then followed by new highs.
U-6 IS 17-20 % GALLUP POLL JUST CAME OUT YESTERDAY WITH 20% UNDEREMPLOYMENT. RATES ARE RISING DUE TO DEBT/SUPPLY. THE FED CANNOT CONTAIN THE BOND MARKET. IF THIS HAPPENS HOUSING DOUBLE DIPS ( NEVER UNDIPPED)
STIMULUS PULLED WILL TELL THE REAL STORY AND NO THEY CANNOT KEEP THE STIMULUS UP BECAUSE THE BOND MARKET IS STARTING TO SAY STOP! NO WAY THE STOCK MARKET WINS VERSUS THE GOLIATH BOND MARKET. NOT GOING TO HAPPEN
I agree with your conspiracy theory and your other points except one thing: I suspect the market will keep slowly rolling up for many months to come and we are witnessing the birth of a new bull market that will make new record highs two years from now.
After all, didn't the all-knowing Abby Cohen of Goldman declare in August that “the new bull market in U.S. stocks has begun”? (See “http://www.reuters.com/article/idUSN0632914320090806”). It surely meant something, didn't it?
Thanks Earl of. Is kind of comical. That's the thing is anyone (except for me) can do well in a trending environment but once that changes people don't know which way to go.
TNA had been a WAIT, but was up today and now has a highly reliable BUY-IF signal (possible buy Monday morning).
The last sell was at $55.61. TNA closed today at $55.95, up 0.6% since the sale. The candlestick today High Wave (indecision in the market). The last two candlesticks formed a highly reliable bullish reversal: Bullish Kicking Pattern.
TZA remains a HOLD. The buy price was $7.04. TZA closed today at $6.98, down 0.86% since the buy. The candlestick today was a doji (dug-of-war between the buyers and the sellers).
I suppose this might pass for technical humor: It’s quite possible, should TNA qualify for a BUY tomorrow, that AmericanBulls might be advocating the ownership of both TNA & TZA at the same time.
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 0.86%
For that matter, recent TNA Buy signals have also been uninspiring: Buy at $55.36, sell at $55.43 Buy at $55.69, sell at $55.63
Summary of $RUT based ETFs & a few popular ETFs (Market positive): Wait: DRV(-3x), SRS(-2x) Hold: DRN(3x, down 1.2%),
Market Transition: Highly reliable SELL-IF (2nd Day):DIA, QQQQ, IWM(1x), UWM(2x), [all Bearish Kicking Pattern on the 1st day] New Highly reliable SELL-IF:RWM(-1x), TWM(-2x) [ both Bearish Kicking Patterns ] New Highly reliable BUY-IF: TNA(3x) [ Bullish Kicking Pattern ]
Market Negative: Wait: URE(2x), IYR(1x), SPY Hold: DTO(-2x oil, down 11.67%), TZA (-3x, down 0.87% )
I suppose this also might pass for technical humor: DTO is down 11.67% since the buy with a HOLD signal still. Not sure how far it can go down before AmericanBulls comes up with some sort of sell signal.
Comment: more market positive than yesterday Action for Monday: Possible buy of TNA
my primary data feed that i use for my inputs is showing 16.10
http://www.flickr.com/photos/47091634@N04/44842…
this is where i derive my data for consecutive close sequences
I agree that we will still sell off but maybe it suggests that the bull run isn't over. Sundancer knows best.
That doesn't mean that we still won't sell off Monica. Many other charts did hit their de-leverage points as Sun mentioned. I don't know how far we sell off, but I expect some selling in the next couple of weeks.
Thanks Red for the post and for the zero hedge article. Hopefully the fed raises the discount rate Monday. On another note, looks like last print in XLF is now showing 16.08 – bad for us bears I guess in the long term. I would expect a big move lower then followed by new highs.
Agreed, and if Bernanke raises the discount rates .25% on Monday at 11:30 am… the banks aren't going to be happy.
U-6 IS 17-20 % GALLUP POLL JUST CAME OUT YESTERDAY WITH 20% UNDEREMPLOYMENT. RATES ARE RISING DUE TO DEBT/SUPPLY. THE FED CANNOT CONTAIN THE BOND MARKET. IF THIS HAPPENS HOUSING DOUBLE DIPS ( NEVER UNDIPPED)
STIMULUS PULLED WILL TELL THE REAL STORY AND NO THEY CANNOT KEEP THE STIMULUS UP BECAUSE THE BOND MARKET IS STARTING TO SAY STOP! NO WAY THE STOCK MARKET WINS VERSUS THE GOLIATH BOND MARKET. NOT GOING TO HAPPEN
Red:
I agree with your conspiracy theory and your other points except one thing: I suspect the market will keep slowly rolling up for many months to come and we are witnessing the birth of a new bull market that will make new record highs two years from now.
After all, didn't the all-knowing Abby Cohen of Goldman declare in August that “the new bull market in U.S. stocks has begun”? (See “http://www.reuters.com/article/idUSN0632914320090806”). It surely meant something, didn't it?
Thanks Earl of. Is kind of comical. That's the thing is anyone (except for me) can do well in a trending environment but once that changes people don't know which way to go.
The Daily view from Americanbulls
TNA had been a WAIT, but was up today and now has a highly reliable BUY-IF signal (possible buy Monday morning).
The last sell was at $55.61. TNA closed today at $55.95, up 0.6% since the sale. The candlestick today High Wave (indecision in the market). The last two candlesticks formed a highly reliable bullish reversal: Bullish Kicking Pattern.
TZA remains a HOLD. The buy price was $7.04. TZA closed today at $6.98, down 0.86% since the buy. The candlestick today was a doji (dug-of-war between the buyers and the sellers).
I suppose this might pass for technical humor: It’s quite possible, should TNA qualify for a BUY tomorrow, that AmericanBulls might be advocating the ownership of both TNA & TZA at the same time.
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 0.86%
For that matter, recent TNA Buy signals have also been uninspiring:
Buy at $55.36, sell at $55.43
Buy at $55.69, sell at $55.63
Summary of $RUT based ETFs & a few popular ETFs (Market positive):
Wait: DRV(-3x), SRS(-2x)
Hold: DRN(3x, down 1.2%),
Market Transition:
Highly reliable SELL-IF (2nd Day):DIA, QQQQ, IWM(1x), UWM(2x), [all Bearish Kicking Pattern on the 1st day]
New Highly reliable SELL-IF:RWM(-1x), TWM(-2x) [ both Bearish Kicking Patterns ]
New Highly reliable BUY-IF: TNA(3x) [ Bullish Kicking Pattern ]
Market Negative:
Wait: URE(2x), IYR(1x), SPY
Hold: DTO(-2x oil, down 11.67%), TZA (-3x, down 0.87% )
I suppose this also might pass for technical humor: DTO is down 11.67% since the buy with a HOLD signal still. Not sure how far it can go down before AmericanBulls comes up with some sort of sell signal.
Comment: more market positive than yesterday
Action for Monday: Possible buy of TNA
$VIX now has 8 consecutive lower weekly closes than opens
In the last 249 weeks, VIX has no sequences longer than 8 consecutive lower weekly closes than opens
1 occurrence of 8 which terminated on 11/13/06