Flat open, any gap will be filled. I see possible Rectangle formation is in the forming so more likely see another push up today.
Institutional actions from stocktiming.
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My proprietary TLT:TIP ratio is predicting more lows in the S&P. We have a ratio of 0.85 which has preceded every correction or consolidation in the market since 2003. It is now flashing a warning, so lower prices are ahead, although sometimes the market can levitate for a bit longer.
The red vertical lines signal the 0.85 level. This simply means inflation expectations are too high which corresponds to a sell off in risk assets. Only in a few cases was it painful to be short for very long when this signal flashed, so the bulls who are predicting new highs in the S&P before a lower low may be in for a surprise.
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Last edited by cheech on Fri Jul 01, 2011 9:12 am, edited 1 time in total.
cheech wrote:My proprietary TLT:TIP ratio is predicting more lows in the S&P. We have a ratio of 0.85 which has preceded every correction or consolidation in the market since 2003. It is now flashing a warning, so lower prices are ahead, although sometimes the market can levitate for a bit longer.
The red vertical lines signal the 0.85 level. This simply means inflation expectations are too high which corresponds to a sell off in risk assets. Only in a few cases was it painful to be short for very long when this signal flashed, so the bulls who are predicting new highs in the S&P before a lower low may be in for a surprise.
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cougar wrote:Good morning.
VIX for the bears: it is toward the end of an ABC correction, with a possible target around 15.
After this, an UP impulse should follow.
Big Ben did his last big push.Yesterday the liquidity was hugh,now we wait and see.
The NYSEBP on Dorsey Wright Point and Figure charts was up big yesterday.They now stand at 54.8%. It has to go to 58% to change to an up trend.Right now I am on the line to turn bullish but will be watching for a dn turn. Watch your charts.Have good trading and lets not rush into a mkt thats needs a pull back.
cougar wrote:Good morning.
VIX for the bears: it is toward the end of an ABC correction, with a possible target around 15.
After this, an UP impulse should follow.
Good call. Any thoughts when to buy TVIX?
When we get the first signs of an aggressive reversal…
But, it will not be an easy call!
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OK, breakout as I said, don't fight the strength. This is way strong, nothing can stop it.
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quick notes on data
today's data is way stronger than yesterday. it is suggesting a strong growth with lower price, ie this is the best moment for economy (one of). if the data are for real, i am expecting to see upward revise of major economy forecasts.
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