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Sunday, September 13, 2009

09/11/2009 Market Recap: Reversal Bar?


SPX 1044 resistance is not broken but 2 intermediate-term buy signals were triggered.

A few reversal bars on different charts may mean a pullback early next week.

A SPX daily cycle was due on Thursday which could mean at least a short-term top.

  Trend Momentum Comments - Sample for using the trend table.
Long-term Up    
Intermediate Up* Neutral  
Short-term Up Neutral  
My Emotion Wait   Could repeat what happened after 8/17, so be careful bears.


1.0.0 S&P 500 Large Cap Index (Weekly), 1044 is not broken, let’s wait and see.


0.0.3 SPX Intermediate-term Trading Signals, both MACD and NYSI are buy now, so I upgraded intermediate-term to up form down. Just too much negative divergence on the chart, so bulls be careful.


1.2.0 INDU Leads Market, for your info only, INDU hasn’t confirmed the SPX new high yet. This is a question of egg or chicken, so no comment, let’s wait and see. 



0.0.2 SPY Short-term Trading Signals, opened high closed lower, this is a bearish reversal bar which means SPY could pullback further.


2.0.0 Volatility Index (Daily), looks like a Bullish Hammer, so VIX could rebound further.


3.1.0 PowerShares DB US Dollar Index Bullish Fund (UUP Daily), another Hollow Red Bar so US$ could rebound. Also 3.1.2 PowerShares DB US Dollar Index Bullish Fund (UUP 30 min), lots of positive divergences.

UUPDaily UUP30min

The follow chart is a visual back test of the UUP oversold plus reversal bar trading setup. Green bar means an entry. Looks not bad, sure, not 100% work though. Also I have visual back test for SPY and VIX, they look OK too.


1.0.7 SPX Cycle Watch (Daily), Just found this cycle. Thursday was a due date, so could be a top.


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