Anyway here are the few bearish indications, at least pointing to a pull back to exit my shorts and get long.
- -The ambivalence of the daily LRC patterns described above, combined with the overbought nature of the 80, 60 and even the 20 minutes LRCs.
- -SPY stopped at a down trendline, only slightly broke thru. (Problem is RUT broke thru)
- -Doji star possible top pattern on daily charts
- -natural SP resistance at 1105 area near where it closed. Seems crazy to buy here.
- -McClellan oscialtor on the rise but stopped under/at an old up trendline, usually turns down from there.
- -VIX bollinger band signal almost, but not quite a sell signal.. could be forthcoming.
- -Silver gold ratio far into the low area 62.4 indicating stock mkt turn down
- -4 up days, 3 pretty large, its due for a pullback. I would think to the 1075 area. CCOC odds are for that.
- -RUT just filled a gap on friday, maybe its done for now.
- -LRCs on TRIN have turned bearish
- -IFT on monthly SP has crossed down bearish
- -Weekly LRCs on SP have all turned bearish, down. indicating a bounce in a bear move is all this is.
- -Weekly MACDs are less than zero
- -Weekly INDU IFT is turned down. (but not RUT)
- -DXY daily is aimed up.
- -Bonds have pulled back to support at 2.75% area (10yr)and bounced, could be ready for another run at 2.0% or lower.
- -ECRI still points to double dip, unemployment claims remain high, net loss of jobs in August, auto sales in the toilet along with housing... still too much negative economics to be bullish.
What I would like to see (and my desires mean nothing to the market) would be for a pullback and the LRCs to be definitive one way or the other, I dont care if I'm long or short but I dont want to be fighting the trend like I did the latter part of this week. Lots of fakeouts so I have to be wary of that all the time, which makes it quite the guessing game especially with these overnight gaps. ugh.
LRCs configurations for daily and 80 min (20 min in center) for SP and RUT |
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