ES/SPY broke new high and created a problem for some systems. However, none of the broader indexes broke new high. All my systems are not affected by ES breaking last week's high.
The one sector that is going gangbuster is foreign stocks. They were lagging in the run-up, and are now leading the pack. That reminds me of Williams O'neil's old saying that ''when the dead dogs come back to life barking from the graveyard…”
Odds are, two weeks from now, when the dust settled, we all wish we had shorted more on the eve of Good Friday.
If and when the market defies gravity, the trend indicators in the systems will tell me the battle is lost and time to regroup. Whipsaws are inevitable, but the risk of being caught fighting an established trend is nil.
In sum, all signals => stay short. No change in out look. If anything, risk of mini crash has increased.
I should say “IF” it gets to that level. OK I must stop talking to myself and go do something productive, if not for society, then at least for myself!
I suggested that yesterday, but Sun seems to think it was accurate… meaning that it was for the DIA, not the SPY. But, it's odd that the previous high on the SPY was 118.16
Situation update 4/1 11:00 EST:
ES/SPY broke new high and created a problem for some systems. However, none of the broader indexes broke new high. All my systems are not affected by ES breaking last week's high.
The one sector that is going gangbuster is foreign stocks. They were lagging in the run-up, and are now leading the pack. That reminds me of Williams O'neil's old saying that ''when the dead dogs come back to life barking from the graveyard…”
Odds are, two weeks from now, when the dust settled, we all wish we had shorted more on the eve of Good Friday.
If and when the market defies gravity, the trend indicators in the systems will tell me the battle is lost and time to regroup. Whipsaws are inevitable, but the risk of being caught fighting an established trend is nil.
In sum, all signals => stay short. No change in out look. If anything, risk of mini crash has increased.
Well, we hit 118.25 spy… a marginal new high, but is it enough?
One more thing and then I'll shutup – at least VIX has gotten below that 116.90 level.
Yeah… if Anna only knew that it's me in the picture now, not the girl. (But, I'm still in cash… so I wait a little longer)
LOL looks like it is your ass that gets whacked now, red. LOL
LOL… U is funny…
I should say “IF” it gets to that level. OK I must stop talking to myself and go do something productive, if not for society, then at least for myself!
I suggested that yesterday, but Sun seems to think it was accurate… meaning that it was for the DIA, not the SPY. But, it's odd that the previous high on the SPY was 118.16
We all should watch GS for clues. Red, go short when it gets below the 169 level.
Maybe it was a mistake and they meant to print it on the SPY? Just wishful thinking, I know 🙂