COULD NOT ASK for anything betterJay
A little MILD strength this AM after yesterday's give back, but I did mention that to several people- IMPACT AGREES with EKG- MUCH ADO ABOUT NOTHING todayActivity index also mild rise this AM from 100 earlier to 266 at 9am
FLUX indicator has been WILD the last 3 days SOLID- what that mean?
SOMETHING BIG is about to happen
GROSSLY OVERBOT technicals
ARMS 5 = 59 --SELL SIGNAL is UNDER 100
TRIN 5 = 295-- SELL signal UNDER 400
These levels are MUCH more overbot than the previous highs
as already noted on a previous posting at the Nov 19th high.
High energy at 11:14am
and at 3:23pm
60 bars pivot at 2pm
COMMENT from FUTURES TRADER yesterday
VERY appropriate
What a day.
Full of adventure and major developements.
The bond vigilanties have decided to wake up after years of hybernation..
OH BEN WHAT HAVE YOU DONE..
That 60 minute interview will be costly.
For the bears there might be life.
If bond yields keep rising there is no way this market is going higher and I am going to have to reconsider my trade.
It could also be that the market is some what long and with tomorrow liquidity roll over, booking profits might be the norm.
There is so much to digest at present,one thing is for sure long bonds under 120 and I feel this market can dive to 1140 if not 1100.
Today was a huge rejection of 1234, game might be over for the bulls.
not sure just my 5 cents worth.
More later
Jay
10 comments:
Hi Jay
In the same camp at the present time. not sure either way ..BUT
IF the LOng Bond keeps sliding down in price there is no way this market will trade higher
I dont think Ive every seen the OEX PC ratio at such a 5 day low
AVER = 50.4
That means the OPTION players are WILDLY BULLISH, which means the MKT IS MAJOR BEARISH
Jay
Thanks FT
bearish camp looking better as we close in on the 55-110-165-220
tr day convergence on Dec 21/22
BUT it cant all happen in ONE day, so a price erosion, wave progression, must being shortly
Im getting mixed signals for Friday
but it could start the slide on open
Jay
I have a big up day monday followed by abd big down day tuesday
Yawn. What a boring, sloppy directionless day. The DOW has been green and red twice. The S&P is up and down in a tight channel. They are still beating on oil, silver, coal, gold, etc.
The day is shaky at best. I still do not think the "end of the run" has come. I think we got ahead of ourselves a bit and needed a pause.
gold and silver are NOT done going up. They just can't do it every day. I will be re entering even more miners/aggregators when this profit taking dip is over.
Hi Abdullah
you hit the nail on the head,
time wasting day.look at the internals to see what is being worked off.
Gold and silver at present is in a switch from metals to grains.
The only interesting thing I can see is that the long bond is now under 122, under 120 and I turn grizzly. For Xmas
EKG says MORE of the SAME tomorrow
Jay
Life support still works for the bears...thats 3 days in a row a 1235 rejection...very bad for the bulls.
But also bad for the bears is that they cant seem to drop the market down..
The tug a war continues tomorrow.
cheers
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