THE NEW JAYWIZ 2023

THE NEW JAYWIZ 2023
THE NEW JAYWIZ 2023

Wednesday, August 29, 2007

minor sell signals

just as the close of Tuesday provided a number of buy signals
the close of today provides just the opposite
Here they are:

light volume
Arms index daily = .27 - havent seen that in a very long time
Up vol = 96% it was 93% down on Tuesday
Cboe PC ratio = .96 , and down from 1.30 day b4
oex PC ratio = .57 can be seen as a screaming sell
spx 500 PC ratio = 1.24 - has been holding ranges near 2.00 and up, so this one is bearish
These ratios are all indicating a lot of CALL BUYING.
the day's reading calls for loss of enthusiasm and stalled out.
Solar effect is down for tomorrow

However, Friday could be just the opposite again, but the bar count hits 180 at 11am on Friday, and there is numerous inflation data coming out at 8:30am. which might go against offering a rate cut. On the otehr hand Friday has a few other hidden asssets which might lend a hand in providing an upday. You can see why I keep vacilating about Friday.

Charts Edge 3 month charts so far seems quite accurate, and does show Friday as an upday.
I cant imagine why the weekly report contradicts the monthly charts, but the weekly shows Friday as a down day.

Jay

No comments: