Because CPCE < 0.56, plus several other factors which will be detailed in tonight’s report, so I see good chance a down day tomorrow. Also a gap up tomorrow morning, if any, will be the 9th unfilled gaps on the SPY chart and the 4th day in a row that SPY opens with a gap up.
Today is also called a "mis-direction day" which means that whichever way the Thursday during the week prior to expiration closes, expiration week itself will close the other way. Well, we’ll see.
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thanks
ReplyDeleteCobra, I was looking at the NYSE McClellan chart and you would see that Market is about the change the TREND. Hopefully it's coming soon.
ReplyDeleteNice charts cobra, thanks.
ReplyDeleteQuestion about your comment......."Today is also called a "mis-direction day" which means that whichever way the Thursday during the week prior to expiration closes, expiration week itself will close the other way. Well, we’ll see."
ReplyDeleteSince market closed in green today, next week would be red?
Thanks for all you do!
Yes, statistically, high chances of closing in red next week.
ReplyDeleteMcClellan oscillator can't even break above the 0 line these past few days even with a new rally high reached today. In a downtrends, rallies are repelled at the 0 line. Also very little volatility in the adv-decl. ratios lately. If this continues to persist, then it would trigger Peter Eliades' sign of the bear.
ReplyDeleteMr. Panic of 1907/2009 (I post some on stockstop.org)