Re: The State of the Market
http://marketsci.files.wordpress.com...m20090226a.gif
Note: the Abnormal Market Filter stands at 73% and the readings above have been reduced to reflect that. Trade with care folks. — michael
http://marketsci.wordpress.com/state-of-the-market/
Lady
Re: The State of the Market
The S&P is trading at 741 as I write this. It's been below, and above. The close is important to a lot of traders / investors. Above bullish - below bearish.
One or even two closes below 741 does not automatically constitute a breakdown. I will look for 3 closes below 741 before I would say to stick a fork in the S&P, and a move to the 600's would then be inevitable.
Re: The State of the Market
Quote:
Originally Posted by
etftalk
The S&P is trading at 741 as I write this. It's been below, and above. The close is important to a lot of traders / investors. Above bullish - below bearish.
One or even two closes below 741 does not automatically constitute a breakdown. I will look for 3 closes below 741 before I would say to stick a fork in the S&P, and a move to the 600's would then be inevitable.
It looks like quite a battle going on. I will say the PPT will crack out another billion and try to make it close around 750.
Go Bears!:)
Re: The State of the Market
These 100-point swings are actually pretty amazing. A year and a half ago a 100-point move was a 0.7% move. Today it is 1.4%, and it is swinging back and forth at will.
Re: The State of the Market
Quote:
Originally Posted by
etftalk
The S&P is trading at 741 as I write this. It's been below, and above. The close is important to a lot of traders / investors. Above bullish - below bearish.
One or even two closes below 741 does not automatically constitute a breakdown. I will look for 3 closes below 741 before I would say to stick a fork in the S&P, and a move to the 600's would then be inevitable.
By the way, since the Dow and Dow Transports have already closed under the Nov lows for more than two days, I can't see the S&P 500 escaping.
Re: The State of the Market
Ouch, it seems the indicator didn't get a rise out of the rally :(
Attachment 19