Live Update

Friday, July 9, 2010

07/09/2010 After Bell Quick Summary

OK, another up day with even lower volume. SPY has been up 4 days in a row while volume down 3 consecutive days, forming a technically so called a price volume negative divergence. Short at today’s close and hold until the first profitable close since year 2000. Virtually the winning rate is 100% because the only 2 losers were losing 0.0%. The samples are too small though, so may not mean anything.


Bullish Monday or should now be bearish Monday? As I’ve explained that Monday had the tendency to constantly outperform or underperform for certain period of times, so my guess is now it is the period when Monday may constantly underperform.


The bottom line, the short-term is up and the momentum is strong, so even we may see some pullbacks early next week but after that most likely there’ll be a new recovery high at least. 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.