Could be a down day tomorrow.
|Trend||Momentum||Comments - Sample for using the trend table.|
As mentioned in the After Bell Quick Summary, because CPCE < 0.56, so it’s likely that we’ll have a red close tomorrow. Below is the correct chart after the CPCE data was fixed.
1.0.3 S&P 500 SPDRs (SPY 30 min), looks like a “kiss channel goodbye”, also a new Bearish Rising Wedge could be in the forming plus lots of negative divergences, so it looks bearish to me.
3.1.2 PowerShares DB US Dollar Index Bullish Fund (UUP 30 min), lots of positive divergences therefore US$ could rebound which usually means a pullback in the stock market.
Some sentiment signals are now at “too bullish” position, because of copyright protection I cannot list them here. The chart below is from www.sentimentrader.com, which we can see that dump money is way too bullish now. From the longer history chart “below below”, the current readings might not high enough though.