Summary:
A little bearish biased because it seems that COMPQ black bar usually led to a short-term top.
| TREND | MOMENTUM | EMOTION | COMMENT - Sample for using the trend table. | |
| Long-term | Up | Disbelieve | ||
| Intermediate | Down | Neutral | ||
| Short-term | *Up | Neutral | *Need further confirm. | |
| SPY SETUP | ENTRY DATE | INSTRUCTION | STOP LOSS | Mechanic trading signals for reference only. Back tested since 2002. |
| ST Model | 12/10 L | *Long intraday. | 12/09 Low | *No confidence in this trade. |
| Reversal Bar | 12/10 L | *Long intraday. | 12/09 Low | *No confidence in this trade. |
| NYMO Sell | 12/04 S | Breakeven |
| |
| VIX ENV | ||||
INTERMEDIATE-TERM: MIXED SIGNALS
In wait and see mode. For more details please see 12/04/2009 Market Recap.
SHORT-TERM: A LITTLE BIT BEARISH BIASED
Not much to say and no idea about tomorrow. Short-term, a little bit bearish biased though, reasons below:
1.1.0 Nasdaq Composite (Daily), looks like black bar always led to a short-term top, besides it has too many unfilled gaps.
Let’s take a look at AAPL (Really have nothing else to say, so…), as it weights above 10% in QQQQ, so perhaps it’s the most important stock in the market. It formed a bearish reversal bar today and looks a lot like a back test to the broken trend line.
INTERESTING CHARTS:
3.4.1 United States Oil Fund, LP (USO Daily), ChiOsc is way too low so oil could rebound soon, this is good for the stock market.
