The State of the Market

[XL-entLady]

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

[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.

[Gumby]

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!

[etftalk]

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.

[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.

[JTH]

Ouch, it seems the indicator didn't get a rise out of the rally

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