The sp500 today showed bearish action to me. Today was a HUGE opportunity to bounce this market and close on the HIGHS, OR bounce this market, then sell off near the close, but then FINISH at the highs or near the top of the range. Was it accomplished? No. The tape looks quite weak to … Read more
We currently appear to be inside of a slow motion stock market crash that is breaking down from a large broadening top formation as well as a head and shoulders top formation. BestOnlineTrades issued a BOT short signal way back on July 28, 2011 and since then the market has basically plummeted like a rock. … Read more
I am issuing a BOT Re Short Signal right now in the sp500 at 1188. I am thinking part of this rally is cooked for now and we could resume down again at the minimum to the lower portion of the trading range. I am unclear if this is ‘the’ one and only re short … Read more
I shorted more VXX today via puts in the belief that we are about to see a bullish rally in the market perhaps into the end of August. Makes sense to see some end of quarter window dressing to try to salvage some mutual fund performance scorecards. I have to say I am quite surprised … Read more
This market is too tough to call right now. The bounce did not work and the VXX break down did not work. I have to describe today as bearish but cannot conclude that the market will blast higher or lower from here. But the bias seems to be more weakness. If we truly are in … Read more
I think we have a bottom for now. I am seeing volume reversal signals on VXX and the SPY. We hit a volume blow out yesterday and we should head higher from here or at least bounce a bit. Fear turns into greed very quickly. There will eventually be another huge shorting opportunity down the … Read more
I shorted the VXX just now with short term puts at 33 and change. The VXX is likely to COLLAPSE. Not permanently but at least maybe for a day or two… it is extreme overbought and this VXX can really drop like a rock with fear easing off only a little bit… I am also … Read more
I was out most of the afternoon and evening and was not able to write up another posting for tonight. It is the midnight hour now and I am updating my charts as I write. I can see from an early scanning of the sp500 that we once again closed with a MARIBUZU candlestick that … Read more
The volumes Mid day on the QQQ and SPY are suggesting to me that we have not climaxed yet on the crash that is currently underway. The candlestick we had last Friday was a doji candlestick. It was failed to be confirmed today as a reversal signal and therefore I have to conclude that we … Read more
My mind has been contemplating a few possibilities for this upcoming week. Certainly it is probably one of the most anticipated weeks of trading ever in the USA stock market. The world world knows about the downgrade of the USA credit rating by now, but what does this mean for the markets on Monday? A … Read more