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the rebound for now looks like a bear flag, but again, nowadays very rarely bear flag actually works, beware.
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However, currently, the market is pushing towards 4-standard deviations (99.9 percentile) above the 52-week mean. As shown below, this is “rarefied air” for the market historically.
Was anybody surprised to see US oil production continue to soar. Between bonds, VIX and Apple waiting for the Hedge Fund margin calls to start on their record long oil positions.
mind RUT close today… on 20d SMA .. hanging on for dear life.. under look to 50d TRANsports <20d tagged at HOD .. mind possible H&S on GLD daily "IF" a lower high forms and 20d goes.. look to 124
AD, daily
Yesterday’s damage reversed the long trend from November
Like most indicators, it can easily chop around, or pop back up… but the signal is down until it does...
Disclaimer: I am not an investment advisor. This is just my opinion NOT investment advice.
ALMANAC:
“Of the last 79 [FOMC] announcement days, the S&P 500 finished the day positive 47 times [59%] . Of these 47 positive days S&P 500 was down 27 times (57.4%) the next day. Of the 32 down announcement days, the following day was down 17 times (53.1%). All 79 announcement days have 0.43% average S&P 500 gains while the day after has been a net loser with S&P 500 declining 0.30% on average. http://jeffhirsch.tumblr.com/post/17031 ... lly-a-good
Disclaimer: I am not an investment advisor. This is just my opinion NOT investment advice.