Live Update

Thursday, August 27, 2009

08/27/2009 Pre-Market Briefing

Open flat, another boring day, I guess.

Institutional Buying and Selling Trending from www.stocktiming.com. My view of the chart is that the distribution is at historical low while accumulation has negative divergence, but overall, the institution is still in accumulation mode.

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Anonymous said...

market is down now. Will it bounce back?

August 27, 2009 10:11 AM

I have no idea. SPY is on an important support now. TRIN actually is not so bearish today.

SPY30min 

 

10:25am, Here’s a text book target for Symmetrical Triangle. The rebound so far now looks like a consolidation, so still could breakdown…

SPY15min

11:23am, just a reminder, it’s not a broad based selling, financials are strong therefore TRIN is very low now (0.47). So bears, don’t get too excited.

Sector1

10 comments:

  1. Thanks cobra! It seems as long as the "blue" accumulation is high market will not fall. It seems that at prior high (before the big plunge) both accumulation and distribution cross and are both at low end.

    ReplyDelete
  2. Look like GDP/Job number didn't resolve anything. Another grind to death flat day?

    ReplyDelete
  3. market is down now. Will it bounce back?

    ReplyDelete
  4. here's a 30 minute chart for another point of view. the MOM indicator stands for momemtum not "mother" LOL http://img195.imageshack.us/img195/1793/spy30min.png

    ReplyDelete
  5. QQQQ has broke his very important support at 40.
    The same with SPY.
    It should act as resistance from now. We shell see ..

    ReplyDelete
  6. Cobra, what's going on? Will market make new high soon?

    ReplyDelete
  7. No idea. The next resistance is the last high.

    ReplyDelete
  8. Cobra,

    Notice that the US Dollar broke down,..OIL is UP, and that in turn is suporting SP500.

    Wonder at what point Dollar Weakness will weigh on US multi national's earnings?

    Good call on US Dollar pull back and move higher in OIL,...you were right.

    Regards, Jim P.

    ReplyDelete

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