Charts of Charts hints at a coming bounce….it doesn't stay that bearish for too long, unless it is a major down, and I don't think we are at the point of a major down.
Little Dog has this to say about Chart of Charts:
You know I like the moon, but it is really weird that the eclipse marked this turn down precisely. Also the 5 DMA flipped down right then, and the yellow line for “high levels of stock ready to make some pattern move” also showed us the potential for a turn. AS PREDICTED by your humble dog last week, the 20DMA did flip bearish on Monday, and then stayed there.
The 5, 10, and 20 DMA are all bearish. That is rare. Betting short on the 20DMA going bearish is “safe” you just have to close the trade– no matter what– when the 20 comes back up bullish.
Also, with the number of banks failings increasing, and now they aren't just closing them on Friday's, they did a bunch on Tuesday also! This is bearish.
The consumer is 70% of the economy, and the consumier has been misled and is being crushed. Even if you default on a loan, or EVEN if you do a short sale….they can still come after you and garnish your wages…while you are living in a freakin' tent already!
This is probably a fake breakout (of the rising support line) to lure in more bears. It needs 2 days below the line to confirm the move. If so, then 104.00 spy is next level.
I still believe we will rally all next week, causing a short squeeze on the bears that went short at the end of the day. Many people seen that trend line break today (108.00) and jumped on short.
I think it's a fake move. I'm down a little on my USO calls as the closed at $1.41 today and I bought them at $1.60. But, the UUP (the dollar) tagged the 200dma today and should pull back for a few days.
That will rally the market and commodities. So, I can still see the USO going up to 38 by the end of next week, and the SPY could go back up to 111-112 area.
This is probably a fake breakout (of the rising support line) to lure in more bears. It needs 2 days below the line to confirm the move. If so, then 104.00 spy is next level.
I still believe we will rally all next week, causing a short squeeze on the bears that went short at the end of the day. Many people seen that trend line break today (108.00) and jumped on short.
I think it's a fake move. I'm down a little on my USO calls as the closed at $1.41 today and I bought them at $1.60. But, the UUP (the dollar) tagged the 200dma today and should pull back for a few days.
That will rally the market and commodities. So, I can still see the USO going up to 38 by the end of next week, and the SPY could go back up to 111-112 area.
Market is already in a good bounce if you look at the SFPF ratio. Has nothing to do with suntan lotion. I like it so far, just created it tonight.
Secondary Fear Ratio divided by Primary Fear This is a cool chart. It is linear based. And has more animals on it than you can shake a stick at.
Secondary Fear
Divided By
Primary Fear
The formula is shown embedded in the chart in the black rectangle
Maybe I should have done the ratio the other way….but I like making money when the chart is going down, and I have so many darn critter pasted on here, its too late to change. 🙂
Comments appreciated. Better yet, post your own ratio charts if you have the wherewithal,or unlimited time, yeah right…..
I believe it is a “major downturn” Steveo. Be careful going long my friend, as you might be served up as steak to a hungry bear!
Charts of Charts hints at a coming bounce….it doesn't stay that bearish for too long, unless it is a major down, and I don't think we are at the point of a major down.
Little Dog has this to say about Chart of Charts:
You know I like the moon, but it is really weird that the eclipse marked this turn down precisely. Also the 5 DMA flipped down right then, and the yellow line for “high levels of stock ready to make some pattern move” also showed us the potential for a turn. AS PREDICTED by your humble dog last week, the 20DMA did flip bearish on Monday, and then stayed there.
The 5, 10, and 20 DMA are all bearish. That is rare. Betting short on the 20DMA going bearish is “safe” you just have to close the trade– no matter what– when the 20 comes back up bullish.
Also, with the number of banks failings increasing, and now they aren't just closing them on Friday's, they did a bunch on Tuesday also! This is bearish.
The consumer is 70% of the economy, and the consumier has been misled and is being crushed. Even if you default on a loan, or EVEN if you do a short sale….they can still come after you and garnish your wages…while you are living in a freakin' tent already!
http://oahutrading.blogspot.com/2010/01/guest-p…
thanks Red
This is probably a fake breakout (of the rising support line) to lure in more bears. It needs 2 days below the line to confirm the move. If so, then 104.00 spy is next level.
I still believe we will rally all next week, causing a short squeeze on the bears that went short at the end of the day. Many people seen that trend line break today (108.00) and jumped on short.
I think it's a fake move. I'm down a little on my USO calls as the closed at $1.41 today and I bought them at $1.60. But, the UUP (the dollar) tagged the 200dma today and should pull back for a few days.
That will rally the market and commodities. So, I can still see the USO going up to 38 by the end of next week, and the SPY could go back up to 111-112 area.
I'll know more on by my weekend post.
Red
Red
Whats your thoughts now about next wk? thought they would hold it up today – but – no deal
thx
This is probably a fake breakout (of the rising support line) to lure in more bears. It needs 2 days below the line to confirm the move. If so, then 104.00 spy is next level.
I still believe we will rally all next week, causing a short squeeze on the bears that went short at the end of the day. Many people seen that trend line break today (108.00) and jumped on short.
I think it's a fake move. I'm down a little on my USO calls as the closed at $1.41 today and I bought them at $1.60. But, the UUP (the dollar) tagged the 200dma today and should pull back for a few days.
That will rally the market and commodities. So, I can still see the USO going up to 38 by the end of next week, and the SPY could go back up to 111-112 area.
I'll know more on by my weekend post.
Red
Red
Whats your thoughts now about next wk? thought they would hold it up today – but – no deal
thx
I wouldn't be surprised if we rally to 112.00 spy by next Friday. I think the GDP numbers will start the rally today.
Good point….how many people could hold a position over this weekend?
One of my account is up 25% this year, other one, 2%. I may just flatten both of them and go hiking this weekend!!! Yeah!!
Market is already in a good bounce if you look at the SFPF ratio. Has nothing to do with suntan lotion. I like it so far, just created it tonight.
Secondary Fear Ratio divided by Primary Fear
This is a cool chart. It is linear based. And has more animals on it than you can shake a stick at.
Secondary Fear
Divided By
Primary Fear
The formula is shown embedded in the chart in the black rectangle
Maybe I should have done the ratio the other way….but I like making money when the chart is going down, and I have so many darn critter pasted on here, its too late to change. 🙂
Comments appreciated. Better yet, post your own ratio charts if you have the wherewithal,or unlimited time, yeah right…..
http://oahutrading.blogspot.com/2010/01/seconda…