Live Update

Wednesday, July 29, 2009

07/29/2009 After Bell Quick Summary

My GUESS is that the market may close in green tomorrow. Two reasons:

CPCI reads around 1.57, this is too high and often results in an up day the next day. I cannot show you the chart now because only after 7:30pm ET, can the has the correct readings. I calculated this reading directly from Well, may have different readings tonight. I think as long as it reads above 1.55, the chances of a green close should be good tomorrow.

As mentioned in last night report, today is the end of 7 trading day cycle which could be a turning day. As we closed lower so probably the market will turn up tomorrow.


Oh, we had 4 days in a row a gap down open, so what the chances are that we have another gap down open tomorrow?


  1. Cobra

    The other day you posted a chart of JNK:TLT. What name did you give to that ratio? Thanks!


  3. Hi Cobra,

    I don't know why but it seems that CPCI always shows wrong indications. It failed a lot so prefer CPC. Anyway, this current rally ignored completely (SPX:CPC) what was very reliable in the past.

    Don't you think that sentiment indicators are better in the current scenario? For example, in a tandem, McClellan, Zweig and Tick are showing bearish crosses at MACD (slow STO already crossed for at least 02 days)

    Thanks for the nice work, as always!!!


  4. Thanks for your great work!

  5. OEX put/call ratio is was 2.2 yest, today 1.73 - that has foreshadowed some big drops but it is not perfect.

  6. we had a surge in CBOE put-call ratio today, doesnt it confirm a top in your model ?

  7. Where to check OEX put/call ratio?

  8. Cobra, Do you follow $NYMO and $NYHILO..

    $NYMO MACD and MACD-h gave a signal on july 13 that direction is going to change and MACD and MACD-H changing direction again now...

  9. 10 day moving ave. of both $nydec and $nydnv at extremes typically associated with tops.

  10. $CPCI shows 1.55 on stockcharts right now.. Is that a correct reading? if that's the correct information.. does it change your stance about tomorrow close to RED?

  11. Sumit, 1.55 is not good enough to predict an up day tomorrow but still it has chances. And yes, I follow NYMO and NYHILO, but mostly I only check overbought/oversold on them.

    Anony at 7:17pm, my souce shows that OEX rose again today. It's bearish though.

    Ajvs, I'll try to apply MACD on McClellan, Zweig and Tick to see if they have any edges. Thanks for the info.



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.