Live Update

Friday, November 20, 2009

11/20/2009 After Bell Quick Summary

Looks like the market is set to rebound the next Monday because I see reversal bars everywhere (will talk about this in the weekend report) and there’s also a trick pointing to a green Monday: When both SPX and VIX closed in red, 17 out of 27 times (63%) a green day the next day.


Also seasonality favors bulls too as the days before Thanksgiving were generally bullish. See here: Trading The Thanksgiving Holiday.

The bear’s hope is that the market is trying to form the right shoulder of a Head and Shoulders Top and I guess that bears will get another spike of Buying Climax readings (will talk about this in the weekend report) too.


The bottom line, at the current stage, I have no idea about the market’s direction, perhaps the next Monday will provide me with some clues. Right now the most important thing is to ENJOY YOUR WEEKEND!

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.