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The market is very bullish, so nowadays less and less people are interested in reading market comments anymore.Al_Dente wrote:Happy Valentine’s Day
Lest you think that “trend followers” are like lemmings blinding following SPY, rest assured that the sheep see the same danger signals
that everyone else does…
Assume for a moment that among the most important pieces of the market puzzle are the transports, $VIX, bonds and the dollar.
When NONE OF THESE confirm a $SPX/$INDU high it is a big red flag, and they demand to be carefully watched.
They must start moving in the direction of confirmation soon, if the SPY rally has any plans for continuation.
http://stockcharts.com/h-sc/ui?s=$INDU& ... =257277799
For comparison, here are the same, showing who confirmed/non-confirmed at the final Oct 2007 top:
http://stockcharts.com/h-sc/ui?s=$INDU& ... listNum=15
But until SPY gets this memo, all that trend followers can do is play this rally until it turns, and in longer term portfolios,
lighten up and/or keep adding cheap puts at highs.
It's typical when market gets very bullish, nobody bother to read market comments anymore, so if the market keeps going up and up then we'll have less and less water here.Al_Dente wrote:Snake: where is everybody?
This is spooky
Here’s one for jarbo:
Jarbie, MUB went batshite again yest !!! (check hourly, sheeesh)
Al_Dente wrote:Snake: where is everybody?
This is spooky
Here’s one for jarbo:
Jarbie, MUB went batshite again yest !!! (check hourly, sheeesh)
KeiZai wrote:GM,
from Mels: The NYSE Net Advancing is -1222 and the down volume is 2.6 to one. The NASDAQ Net Advancing is -870 and the down volume is 1.5 to one