I have to switch back to a BOT short signal today. I see a triple M pattern on the MACD histogram and a similar pattern to that which existed before I issued the massive BOT short signal way back in late July 2011. The MACD histogram sell signal is not confirmed yet however. I am … Read more
The sp500 is still trading within a very large trading range. It is looking like we are headed on a clear path to 1230 or so for a test of those swing highs. The 1230 is right at the top of the current large trading range. So it seems like it is too late for … Read more
Unfortunately I have to raise the white flag on the near term bear case right now. I expected the market to show near term significant weakness. The bears once again failed at their job. I am very concerned now about a huge upside move in the market. The QQQ has been very resilient. The bear … Read more
On August 3 2011 there was a hammer reversal at a support zone and it turned me bullish for the short term at that time. The next day the market opened and it COLLAPSED. That small hammer candlestick was completely ignored. In fact in hindsight one can clearly see that the hammer was not really … Read more
The sp500 today is playing a game I am quite familiar with. It gaps down and then appears to start a northward rally. Then all those who were talking about the flag pattern failing and saying the decline is over. The market is being DECEPTIVE. It is trying to suck in some more fish and … Read more
There are two simple scenarios for the great crash of 2011 right now. BestOnlineTrades continues to chart these uncharted waters catching the big moves in the market. The first scenario (assuming the near term bearishness is correct) is for a drop to the highly anticipated and expected 1040 level (by most technicians). Then a QE3 … Read more
It looks like it took two days instead of one day to fully engulf the maribuzu candlestick of two days ago. This is a bearish sign. Other bearish signs today include the VIX confirmed MACD histogram buy signal, the heavier down volume and what appears to be a MACD that wants to curl over to … Read more
Today the sp500 initiated a massive MARIBUZU candlestick low volume rally. It was a perfect maribuzu today on the sp500 where the open was equal to the low and the high was equal to the close exactly. There was a similar maribuzu candlestick in a different time period… October 13, 1987. The candlestick after October … Read more
The sp500 is still trading in a bearish flag structure. Volume has been light recently and the ‘market head games’ continue. The market still looks extremely bearish to me and I see no reason to say we are at bottom now. My attempt at the BOT long signal last week clearly failed. The market tried … Read more
The Futures trading today and the action overseas seems to suggest the markets will crash this week. The market appears to have completed a bearish rising flag formation. This should mean a renewed move down somewhat equal in length to the initial move in early August 2011. The BOT Long signal I had sent out … Read more