Live Update

Monday, June 15, 2009

06/15/2009 Market Recap: Bulls are buying dips aggressively


Uptrend is still intact.

CPC shows that bulls are buying dips aggressively.

Expect a rebound at least tomorrow morning.

  Trend Momentum Comments - Sample for using the trend table.
Long-term Down   Idea for trading intermediate-term under primary down trend.
Intermediate Down* Neutral Sell signals not confirmed yet.
Short-term Down* Neutral  

No tech damage caused by today’s sell off. Just take a look at 0.0.0 Signal Watch and Daily Highlights to “feel” a little bit the changes made today by the market. Sure, 0.0.3 SPX Intermediate-term Trading Signals has generated a few sell signals so the trend table’s “Intermediate Trend” has changed to down from up, but these sell signals still need further confirm. Theoretically, as long as the SPX 878 hold, the uptrend is intact.


7.0.6 SPX and CPC Divergence Watch, noticed a very interesting thing today as both CPC and SPX were dropping together. This means that many bulls were buying the dips. The previous 2 times when both SPX and CPC were down, the next day was up huge. Now it’s the 3rd time, will the 3rd time be different?


3.1.1 PowerShares DB US Dollar Index Bullish Fund (UUP 30 min), overbought, could pullback, this sure helps the market to rebound.


Also 2 short-term indicators form are arguing for a rebound tomorrow.



2 charts to watch:

3.1.0 PowerShares DB US Dollar Index Bullish Fund (UUP Daily). Does the US$ breakout mean a further pullback of the stock market as well as the commodity market?


7.1.3 Major Accumulation/Distribution Days, the previous 3 potential follow-through Major Distribution Days were all cancelled by a Major Accumulation Day. Will the 4th time be different?



  1. Turnaround Tue is a hard trend to go against...

    Awesome data/insight as always...

    the hell w/ the stock "gods" the "book" is what's behind any of them anyhow...

  2. EOM and EOQ may keep trend from full reversal in short-term...many sidelined still want a taste and will buy-the-dip once again...thanks Cobra.



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.