Live Update

Tuesday, November 17, 2009

11/17/2009 Market Recap: Dollar Rebound?


SPY is too high above MA200 plus UUP could rebound so expect some days of consolidation then pullback.

  TREND MOMENTUM EMOTION COMMENT - Sample for using the trend table.
Long-term Up   Disbelieve  
Intermediate Down Neutral  
Short-term Up Neutral    
SPY SETUP ENTRY DATE INSTRUCTION STOP LOSS Mechanic trading signals for reference only.
Back tested since 2002.
ST Model 11/17 *Enter Long. *11/04 Low


Reversal Bar  


NYMO Sell  


VIX ENV        
Patterns ect.         


Not much info as today is a typical consolidation day. My guess is could be more consolidation (2% to the upside the most)  then pullback.

Two reasons:

SPY 20% above MA200 could mean consolidation then pullback (see red bars). The original idea is from here: Stocks Have Little Room to the Upside.


3.1.0 PowerShares DB US Dollar Index Bullish Fund (UUP Daily), Morning Star plus ChiOsc too low (see dashed green lines), so UUP could rebound which may cause the stock market to retreat.




The final $GOLD reading has confirmed that today is an ALL UP DAY. This should mean a big pullback tomorrow.


However, my back test software does not have $WETI and $GOLD which I used in the so the back test results are very different (see red bars). Since I don’t see any edges by using different oil and gold indexes as theoretically the results should be very close, so I’m now not sure if ALL UP DAY indeed means a big pullback. We’ll know tomorrow.


blog comments powered by Disqus


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.