Got some bullish internals for Tuesday
Jaywiz index = .79
spdr =1.75 -bullish
cboe = .89 - neutral
SPX = 1.40 - b
OEX = 1.13 moderately b
Oil = + 3.74 - b
2/12 was pivot low and was 27/38/55 tr day
I dont expect that LOW to hold & could get broken next week
that would be very bearish for the next few months
2/13 - My propietary adv/dec & vol are hovering near the 400 level, which represents buy signals
but they are not UNDER 400 and therefore not very powerful signals
ARMS 5 day = 201.0
TRIn 5 = 10.5
trin 10 = 142
these are indications of an OVERSOLD mkt, but not necessarily a screaming buy
the one day arms of 5.85 on the 10th is also indicating more BEAR to come
I am expecting A rebound Tuesday to spx 840-850 area, and might hit the highs on the open at 10am on the 18th.
IMO, thats the point to get Short
Any gains made Tuesday should be erased and more by Thursday's close
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Friday's low at 1pm was @ 150bars and the close @186, and over shoot of 180 at 3;30
From the pivot low on the 12th it looks like
"a" wave to close on 12th
"b" wave to close on 13th
we should expect "c" wave high on 17th
I cant confirm this yet with scientific data as some of it is not available yet
MORE LATER
Jay
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