Because of SPY dividend, all my SPY charts are totally out of order, so I cannot trust anything from them now. Hopefully, stockcharts.com would update the SPY charts tonight like what they did before.
Anyway, I see no edges for either bulls or bears next Monday. According to the last night report, the seasonality is in favor of bears next week and also statistically the first Monday after OE is a little bit “bear friendly”, not much edge though.
I still see the rebound is weak so far.
Have a nice weekend!
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Lot's of nuclear talk of late... so I guess our government (Obama/FED) will nuke ourself without having others to do us the favor?
ReplyDeletehttp://market-ticker.denninger.net/archives/1137-The-Dumbest-Thing-Ive-Seen-Yet.html
Also the saying "As goes California so goes US of A". So maybe California will set of a nuke chain reaction also? That's 2 nukes!
http://zerohedge.blogspot.com/2009/06/california-to-get-multi-notch-downgrade.html
And save the best for last... Thank GOD our market is regulated!
http://zerohedge.blogspot.com/2009/06/houston-we-have-330-pm-lift-off-right.html
What's up with the VIX? That's just not natural.
ReplyDeleteThanks for the info, but it looks like this market can ignore anything bad. We'll see if this time is different.
ReplyDeleteNo idea about VIX, it looks bearish to me as it fell more usually means complacent.
Could you please explain the n vs n rule or provide a link to a resource? Didn't bears win on 03/30/09 2 vs previous 2? And bulls lost next 2vs 2 battle and didn't regain till 04/02/09 when new high was made?
ReplyDeleteCobra, your SPX:CPCE chart broke back into the trendline, does that mean a failed move again? Or do we have to wait until MOnday to see if it break back out again?
ReplyDeleteLets hope Cali is not foreshadowing what will happen with the rest of the midwest... if it does god speen. being short wont matter there will be no market participants.
ReplyDeleteN vs N rule is my simple way of checking a potential trend change. There's no other reference you could refer. It's basically derived from Dow theory, just I added time factor. The basic rule is for the equal trading days, which side travels longer wins. But since it's based on the Dow theory so the higher high/lower low has higher priority. So this explains the Mar 30 and Apr 2, since Apr 2 had a higher high so even it took longer time to beat bears, still bulls won. N vs N is just a simple rule, like other indicators, it doesn't win 100% time.
ReplyDeleteSPX:CPCE chart, the breakout still valid. The trend line doesn't have to hold. I think you can see on the same chart, there was a case that the trend line wasn't hold but still successfully pointed out a top.
Evan, Cali will be fine. Too big to fall.
ReplyDelete"short wont matter there will be no market participants."
ReplyDeleteGreat! No BID, SPX/DOW/NDX GOES TO ZERO!!! YA!
"Evan, Cali will be fine. Too big to fall."
ReplyDeleteIS ok, whole US of A will fail. There will be no "too big to fall" once US government fails...
I wish US of A collapse or have a government overthrow...
Cobra, how do you change your stockcharts to the divided sections? 0.0.1, 0.0.2, 0.1.1, etc etc
ReplyDeleteMine are "stuck" in alphabetical order.
(i dont know how to change it)
Thanks in advance, if it's "explainable" in a short message on here.
v/r
erik
Erik, click member on the top, you will see "Your Favorite Charts" list at bottom. On the very right side of each list there's "edit".
ReplyDeleteOil broke down its bearish wedge. The S&P broke down its bearish wedge. I expect Monday to be quite ugly.
ReplyDeletesupport Cobra!
ReplyDeleteI am NuanYang.
Hope you get better soon.
Cobra, thanks
ReplyDeleteI know that part. Just mine keep reverting to alphabetical order. Which I guess that can NOT be changed, and that is the only setting...
and that is why u label yours 0.0.1, etc etc to PUT them in order? as the system only sets them in alphabetical?
I know how to edit, but i just want to change the order of them. Im guessing now that's why u label them as such, b/c that is the order they are automatically placed in?
thanks man
Erik, yes, the system sets them alphabetically only. Sorry I misunderstood your question.
ReplyDeleteNuanYang, thanks for asking, I'm fine now. Thanks.
Thanks, i figured it out. Tedious, but once it's set up like such its so much easier to stay organized
ReplyDelete