nothing to say. RSP lower low already, normally SPY should follow.
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Dow Trader wrote:based on the Dow futures pattern since today's low, it means thatwe must go below today's low ( it is not the low ) and that is almost 100 points from here
that does not mean we should make it today, but it as I call it a must target
Closed the Dow short positions, that was easy +90 points
lower low now. another ugly close I guess. bad close everyday means some program is selling probably forced sell.
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it's no fun anymore. ugly close. now bulls need the last minute rumor to shoot up high.
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RSP confirmed 1-2-3 Trend Change, no good. this one leads SPY.
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well, guess that's it for today. ugly close but still much better than I thought as at least bulls had half day which means that my indicator still works and this is not yet an out of control market, so chances are even better another rebound try tomorrow. Thank you guys, I'll see you tomorrow.
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Cobra wrote:Flat open, normally any gap after a Major Distribution Day will get filled and the day normally a small range day. Global ES looks like a Bear Flag or Rectangle in the forming, so chances are it will continue down eventually.
It's a perfect statement for today.
Thanks Cobra. Your market sense is too good to be true. unbelievable.
ocassional observer wrote:I would like to point your attention to a little followed indicator called the credit suisse fear barometer. a peak in this indicator as led every peak in the market by ~7 days since the beginning of the year. it has recently confirmed an intermediate top by falling dramatically as the 6m graph shows.
CSFB 6m.png
a 5y chart shows that we are at heightened levels similar to the one that preceded the bear market start in 2007.
CSFB 5y.png
i believe a break down of this indicator below the 20 level will sign, together with the economic indicators i mentioned at yesterday's close, and what i now believe is a confirmed dow theory sell signal from the beginning of july, the start of a bear market and a coming us recession.
the indicator is updated daily at bloomberg several hours after the close:http://www.bloomberg.com/apps/quote?ticker=CSFB:IND
a definition exist there as well.
good idea. i spent too much time understanding it and forgot to say thank you
The goal is not uniformity. It is understanding and idea exchange.
Cobra wrote:Flat open, normally any gap after a Major Distribution Day will get filled and the day normally a small range day. Global ES looks like a Bear Flag or Rectangle in the forming, so chances are it will continue down eventually.
It's a perfect statement for today.
Thanks Cobra. Your market sense is too good to be true. unbelievable.
Absolutely amazing! Besides the morning comment, the rest of the day was also full of amazing calls - just like it always is. Totally unbelievable!