Carl All good stuff posted today including charts. I believe this bottom 1106 will hold but in the short term I think they will test it waiting for the money changers in DC to make their decision, probably sometime tomorrow. Here is an spx weekly chart reflects spx big contracts P/C ratio at important turns and though we have made a lower low this week the ratio is still in very bullish territory at 1.53 as of last night.
I think your comments have been brilliant. Anyone can (should) make money when they are on the right side of a long term trend,. It takes genius to come out alive when you're on the wrong side. Paul Macrae Montgomery
5 comments:
Carl
All good stuff posted today including charts.
I believe this bottom 1106 will hold but in the short term I think they will test it waiting for the money changers in DC to make their decision, probably sometime tomorrow.
Here is an spx weekly chart reflects spx big contracts P/C ratio at important turns and though we have made a lower low this week the ratio is still in very bullish territory at 1.53 as of last night.
[chart]stockcharts.com/c-sc/sc?s=$SPX&p=W&b=5&g=0&i=p86530589644&a=114922087&r=5569[/chart]
I think your comments have been brilliant. Anyone can (should) make money when they are on the right side of a long term trend,. It takes genius to come out alive when you're on the wrong side. Paul Macrae Montgomery
Carl,
Thanks for your charts. Great to see some of the technicals you talk about in those charts.
Keep up the great work, and lets get this market back on the right track (up).
Nothing but short covering today so I would suspect this advance. Not many buyers involved today looking at the A/D. Sorry, more downside ahead.
cole,
This market has been on the right track if you've been buying inverse ETF's.
Sandy Macoy
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