Live Update

Wednesday, December 9, 2009

12/09/2009 Market Recap: Record low bears among newsletter writers

Summary:

Market is till range bounded.

  TREND MOMENTUM EMOTION COMMENT - Sample for using the trend table.
Long-term Up   Disbelieve  
Intermediate Down Neutral  
Short-term Down Neutral    
SPY SETUP ENTRY DATE INSTRUCTION STOP LOSS Mechanic trading signals for reference only.
Back tested since 2002.
ST Model

*Long if up day tomorrow.

 

*No confidence in this trade.

Reversal Bar

*Long if up day tomorrow.

*No confidence in this trade.

NYMO Sell 12/04 S   Breakeven

 

VIX ENV        
         

INTERMEDIATE-TERM: MIXED SIGNALS

In wait and see mode. For details please see 12/04/2009 Market Recap.

The latest Investor's Intelligence Sentiment Survey shows the number of bearish newsletter writers are now at the 2nd record low.

IIBears 

SHORT-TERM: MIXED SIGNALS

Take a look at the today’s After Bell Quick Summary, I modified a little bit if you read it earlier: ISEE Indices & ETFs Only Index > 100 actually means 73% chances there’ll be a close that is lower than today's close within 2 days.

As for tomorrow, all I can find are one bull friendly chart, 3.1.2 PowerShares DB US Dollar Index Bullish Fund (UUP 30 min), could be a bearish 1-2-3 formation therefore dollar may pullback further which is good for the stock market.

UUP30min 

Seasonality from www.sentimentrader.com, take a look if interested.

 Seasonality

INTERESTING CHARTS: NONE

blog comments powered by Disqus

Disclaimer

The information contained on this website and from any communication related to the author’s blog and chartbook is for information purposes only. The chart analysis and the market recap do not hold out as providing any financial, legal, investment, or other advice. In addition, no suggestion or advice is offered regarding the nature, profitability, suitability, sustainability of any particular trading practice or investment strategy. The materials on this website do not constitute offer or advice and you should not rely on the information here to make or refrain from making any decision or take or refrain from taking any action. It is up to the visitors to make their own decisions, or to consult with a registered professional financial advisor.

This websites provides third-party websites for your convenience but the author does not endorse, approve, or certify the information on other websites, nor does the author take responsibility for a part or all materials on the third-party websites which are not maintained by the author.