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 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.



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.



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


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.



  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.

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

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

  4. here's a 30 minute chart for another point of view. the MOM indicator stands for momemtum not "mother" LOL

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

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

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

  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, were right.

    Regards, Jim P.



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.