Monday, February 29, 2016

If you think bearish sentiment is...

Almost every single day we hear how extreme bearish sentiment is and how high the market will fly because of it. But you never saw such a rant about the bullish sentiment that got morbidly extreme on the way up while FED was pumping.

This alone tells me there is more downside, at least to test the lows, perhaps not now but later in March. For those who are still bearish, here is another group of people that haven't jumped on the bull train yet : INSIDERS




Perhaps it is still all about China that used to be the main engine for global growth once. This chart suggests Chinese zeppelin has roughly 20% more downside and this is going to hurt US more than any other market

SSEC monthly

Remember FED's bull train on the way up...then expect the bear train become nothing less than that before we can talk about the sentiment.

Ben's Bull Train 


Friday, February 26, 2016

Today's reversal...

Excerpt from Atilla's update posted before the open today:

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Update


In addition to the weekly chart of SPX Sol showed in ‘Opening Comments’, below is a weekly chart of Russell Broad Market Index which shows a similar structure. The index should touch the broken channel today if it didn't already do so in premarket as ES printed 1968.75. I will be looking to short today...


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Sudden reversals on Fridays


Wednesday, February 24, 2016

Todays gyration

Following is 'Opening Comments' and 'Intraday Update' posted on xTrends Live today. I think there is going to be more of the same only on a different scale.


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Heads-up



RUT is at @ target




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Opening Comments


Market reversed lower from Mondays close as expected. We will likely see a move towards ES 1860 in this leg.

SPX hourly

SPX daily

Wilshire hourly

RUT hourly


RUT gives us the immediate support level for today, which is also daily support. RUT 991-995 is the daily support which may hold today. I have April puts I want to close soon because I think there will be another rally after this dip

SPX headed to test Aug / Sep lows?

After a long hibernation, decided to open the public section of the site to enjoy the bear market...  like old times.

Monday, February 22, 2016

Rally should die right here

SPX backtesting the broken bull market channel, bears should take the control right here

SPX weekly

daily

Thursday, February 11, 2016

Weekly charts suggest a tradable bottom here

Following charts imply a large multiweek bear market rally starting right around here

SPX weekly

World Index ex-US

XLY



Friday, February 5, 2016

Thursday, February 4, 2016

DOW is about to backtest its broken LT channel, short again?

Another test of the support line coming

NDX is about to break down

Big plunge after Jobs report?

Bear market leader is broken and set to test the bear market lows. Big moves usually start the day after the Job reports, Monday could be bloody

Large caps are near the channel support

AAPL possible ST bottom around low 90s