Ideally for the bears we will get a 2B sell signal on the 15 minute intraday sp500 chart. As I type right now it appears we are getting the signal live. Whether or not it continues into the final close remains to be seen. Lets see what happens. A 2B Sell would be triggered on … Read more
Today the Sp500 (so far at least) is rallying strong right back to the underside of the very steep up trend line that it broke down through yesterday. This is pretty typical classic type upside reactionary action in this index. Yesterday on the SPY we saw a downward break through of the up trendline on … Read more
If this omen regarding General Electric Company still holds true then the picture is not looking very good for the sp500. GE has shown in recent weeks a false upside breakout followed by a very high volume break down and 2B sell signal that was on higher volume than the May 6, 2010 flash crash. … Read more
I went long the VXX and the SDS again today after being stopped out yesterday. As indicated in my previous post, the BOT short signal is now live again as of the open in the sp500 today which was 1178.64. I can really see very clearly how being short the market too early is such … Read more
I am keeping the BOT Short Signal right from the Open of sp500 today. Obviously it would have been better had I kept the signal intact of a few days ago instead of whipsawing myself several times over the last few days. But I guess that is life, welcome to the market. More details to … Read more
Ok well only an hour later I am seeing quite a different picture in the after hours session and after AAPL and IBM earnings are out. It looks like this is all come down to a few hours of market action and a few earnings numbers. Just a few hours in the afterhours session is … Read more
I have to switch to a BOT Neutral Signal now at 1184 on the sp500. We are closing above recent 3 day highs although it is still not end of day yet. The market appears to be too strong. It does not want to deliver a sign of weakness to kick off any potential bear … Read more
The sp500 futures are trading down about 7 and a half points so far tonight and spot gold is down about 12 dollars. Certainly not the end of the world, but I must admit I cannot remember any time during the last 6 weekends on Sunday night when the futures have been down this much. … Read more
I thought this was really interesting to listen to in case you have not already. It is the audio of an Sp500 trader quoting the action taking place in the futures pit in Chicago on May 6, 2010. Quite entertaining to listen to if you are into this sort of thing. YouTube Link On that … Read more
October has always been a very interesting month to me as far as the markets are concerned. The leaves change color and then just drop to the ground like a dead weight. Strange isn’t it how the markets sometimes seem to do the same during this famous month? But we are already 2 weeks into … Read more