08/30/2010 Market Recap: Green Day Needed Tomorrow

TREND MOMENTUM COMMENT Long-term 2 of 2 are SELL   Intermediate 3 of 3 are SELL 5 of 5 are NEUTRAL SPY ST Model in SELL mode; Non-Stop in SELL mode. Short-term Model is SELL 5 of 5 are NEUTRAL Trend is down, I hold no position overnight. GANN DAY MOON/SOLAR CYCLE CONCLUSION 9/10 09/08 / 09/08 9/5, 9/6 Next pivot date: 09/07 – 09/10

BULLISH BEARISH 0.2.3 NYSE McClellan Oscillator: the 3rd Hindenburg Omen triggered. T2105 too high. *0.2.5 NYSE Total Volume: Too low.

SPY SETUP ENTRY DATE STOP LOSS INSTRUCTION: Mechanic signals, back test is HERE, signals are HERE. TRADING PLATFORM: SSO/SDS, UPRO/SPXU Non-Stop 08/16 S N/A For general direction guide only. ST Model

*Please make sure you understand how to use the table above. The purpose of this report is to provide info so contradictory signals are always presented.

SEASONALITY: BEARISH EARLY NEXT WEEK, BULLISH LATER

See 08/27 Market Recap for more details.

INTERMEDIATE-TERM: STATISTICS ARE BEARISH, THE NEXT PIVOT DATE IS AROUND 09/07 TO 09/10

See 08/27 Market Recap for more details.

SHORT-TERM: A GREEN DAY TOMORROW IS NEEDED TO AVOID FURTHER BAD SIGN

Nothing to say today except a green day tomorrow is necessary to avoid a further bad sign. See chart below.

 

0.2.5 NYSE Total Volume, not good, still look like a top instead of a bottom. By the way, price down on volume down is not at all a bullish sign, in a downtrend, it means bearish continuation. What bulls really need to see is price down on volume surge which may imply a process of capitulation.

 

HIGHLIGHTS OF THE OTHER ETFS IN MY PUBLIC CHART LIST

	TREND	DTMFS	COMMENT – *New update. Click BLUE to see chart if link is not provided.
QQQQ	DOWN
IWM	DOWN
CHINA	UP		Head and Shoulders Bottom in the forming?
EMERGING	DOWN		4.1.6 iShares MSCI Emerging Markets (EEM Weekly): EEM to SPX ratio too high.
EUROPEAN	DOWN
CANADA	UP	*BUY
BOND	UP	*SELL	4.2.0 20 Year Treasury Bond Fund iShares (TLT Weekly): Too far away from MA(200).
EURO	DOWN
GOLD	UP	*SELL
GDX	UP	BUY	4.3.1 Market Vectors Gold Miners (GDX Weekly): GDX to SPX ratio too high. 3.2.1 Market Vectors Gold Miners (GDX Daily): ChiOsc is too high.
OIL	DOWN
ENERGY	DOWN
FINANCIALS	DOWN		4.4.2 Financials Select Sector SPDR (XLF Weekly): Head and Shoulders Top in the forming?
REITS	DOWN		4.4.3 Real Estate iShares (IYR Weekly): Home builder is lagging, be careful.
MATERIALS	DOWN

*DTFMS = Dual Time Frame Momentum Strategy. The signal is given when both weekly and daily STO have the same buy/sell signals. Use it as a filter, don’t trade directly.