Summary:
Market is till range bounded.
| TREND | MOMENTUM | EMOTION | COMMENT - Sample for using the trend table. | |
| Long-term | Up | Disbelieve | ||
| Intermediate | Down | Neutral | ||
| Short-term | Down | Neutral | ||
| SPY SETUP | ENTRY DATE | INSTRUCTION | STOP LOSS | Mechanic trading signals for reference only. Back tested since 2002. |
| ST Model | *Long if up day tomorrow. | *No confidence in this trade. | ||
| Reversal Bar | *Long if up day tomorrow. | *No confidence in this trade. | ||
| NYMO Sell | 12/04 S | Breakeven |
| |
| VIX ENV | ||||
INTERMEDIATE-TERM: MIXED SIGNALS
In wait and see mode. For details please see 12/04/2009 Market Recap.
The latest Investor's Intelligence Sentiment Survey shows the number of bearish newsletter writers are now at the 2nd record low.
SHORT-TERM: MIXED SIGNALS
Take a look at the today’s After Bell Quick Summary, I modified a little bit if you read it earlier: ISEE Indices & ETFs Only Index > 100 actually means 73% chances there’ll be a close that is lower than today's close within 2 days.
As for tomorrow, all I can find are one bull friendly chart, 3.1.2 PowerShares DB US Dollar Index Bullish Fund (UUP 30 min), could be a bearish 1-2-3 formation therefore dollar may pullback further which is good for the stock market.
Seasonality from www.sentimentrader.com, take a look if interested.
INTERESTING CHARTS: NONE
