My Charts show the JNK/SPY Elders ratio is green, indicating probable lower SPY and DIA this week.
Flip that coin.
Legal note:Don't believe anything I say above. You may lose yourA$$..
My chart has Daily Elders (Close, High, and Low), MA-2, CCI, and ATR for each stock; all color coded.
Legal note:Don't believe anything I say above. You may lose yourA$$..
My chart has Daily Elders (Close, High, and Low), MA-2, CCI, and ATR for each stock; all color coded.
Al_Dente wrote:Dr. X:
Thanks ….ok then how about this:
I want/need a benchmark (“reference point”), like a SPY overlay or something, so that when I “eyeball lookback”, I want to see what the “benchmark” index was doing the last time yr world was sooooo blue (without having to flip back and forth to another chart).
If that would be easy to add, great…. If impossible (would screw up the scale), just ignore request….
There may be some kind of confirmation/non-confirmation signaling at work here too:
Example: look at the May 1 to May 18 SPY decline
On yr elders, on about 5/9 all 15 elders hit red (extreme)
Then 5/14 thru 5/17 = 14 elders red, then less and less…
BY THE TIME SPY BOTTOMED 5/18 the reds were exhausted down to ZERO which was the SPY turning point……….. hmmmm…….
correction……. actually the red elders hit zero on 5/22
(see how wonderful it would be to have a SPY overlay to “find” this. But please don’t add too many more lines, as u will burn a hole in my retina
….. “less is more”)
[edit: ps: yr explanation helped a lot. I now see yr chart means that friday 11 of the 15 world markets closed blue elder, and about 3 closed red, etc...]
I may see a Elder streak like our current: 12-6-11. Estimating red week.
Flip that coin.
Legal note:Don't believe anything I say above. You may lose yourA$$..
My chart has Daily Elders (Close, High, and Low), MA-2, CCI, and ATR for each stock; all color coded.
First I'm like "Huh? That's a bond fund." But 2nd I'm like, "Oh, it's a junk bond fund". So basically when people get a bit too excited about junk bonds it bodes unwell for the stock market, is that the gist?
ClarkW wrote:HYG Daily: ChiOsc highest it's been in 4 years. Historically when it's above $3mil the short term future is not good for the it and $SPX
Legal note:Don't believe anything I say above. You may lose yourA$$..
My chart has Daily Elders (Close, High, and Low), MA-2, CCI, and ATR for each stock; all color coded.
Legal note:Don't believe anything I say above. You may lose yourA$$..
My chart has Daily Elders (Close, High, and Low), MA-2, CCI, and ATR for each stock; all color coded.
wow, great charts this weekend everyone... thanks Mr. X for all of the news info...
looks like Friday has some interesting info coming out...the US PPI....and thursday night China GDP may start some fire works...until then we may be up....