There is an analyst using whats called the Hindenburg omen, and he claims there has been a cluster of hit within the last month, which is required as just one hit is just not enuf.
OEX pc ratio = 1.25 just moderate
CBOE pc ratio = .98 ditto
SPX 500 ratio = 1.47 Ditto
VIX ratio which was .67 yesterday today is .20- overwhelming calls over puts= contrary is bearish
WCA graph shows marekt down next 2 days
MY Gravity indicator is on a sell
Dollar getting as low as it can get, according to one analyst, almost at bottom.
Monday's low hit at 126 bars at 2.00 to 2:30
extending the count to Thursday close would be 180 bars OR Friday's open.
IF all goes according to plan, get ready to BUY the friday open low, and dont look back till at least the 23rd.
Best Wishes
Jay
2 comments:
Jay,
Thank you for your insightful market updates. Could you please define your "VIX ratio" and the components of the calculation?
Thanks in advance.
A low dollar has been an invitation for overseas fund managers to load up on US stocks. After all, the principle works for $ priced commodities such as oil, so why should it not be true for stocks. Also, many of the major Dow and S&P stocks earn overseas currency which when converted into $ boost the profits and give great earnings figures.
Watch for a rally into OpEx.
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