CHICKEN or EGG
does NEWS made by MAN move the market ?
OR
Does the MARKET make MAN to make his MOVE ?
Yesterdays NEW DOW low has NOT produced an S&P new low, not yet anyway
However, as I wrote b4
I sold out puts yesterday at 3;35pm
the mkt ran up and fell again
NOW looking at 156 bars at open as the LOW at 9:40 am to maybe 10am
180 bars with 55%/13 day at 11;30 is secondary BUY zone
A GOOD SCARY open, IMO, is a BUY
Yesterdays close
MY PROPRIETARY indexes ISSUED a BUY
internal data
ADV decl ratio = 308
VOl ratio= 270
BOTH WELL UNDER 400 threshold
5 day ARMS = 212.6 = huge buy signal
5 day trin = 106.3 = strong buy
10 day = 146.8 = moderate buy
ALL are SHORT TERM signals
Yesterday was 8day LOW
Today is 8 day TURN
POWER INDEX hit lows at 350 yesterday and today they jump up to 600 and
they hold those levels thru Tuesday - new moon high
Feb9th was full moon high
Some are talking Nationalizing the some banks this wkend?
WALL St needs NEWS - thus my opening statment
More later
Jay
1 comment:
thanks for all your splendid updates Jay.
Some ellioticians are of the opinion that record oversold readings are what you get in a 3rd wave, so your buy signals might not indicate that the market should be bought, but rather that we are in three of three...
Regards,
S
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