07/23/2009 After Bell Quick Summary


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I don’t see anything special other than overbought. Today’s big green bar after a series of small green bars looks like a typical short squeeze setup and today could be the final squeeze. If this theory holds true then from now on we’ll see overbought finally works. Let’s wait and see…

Remember cumulative tick negative divergence plus the final spike before big pullback mentioned last night? I couldn’t solve the puzzle of conflicting with the other reliable “green close” signals at that time. But now with all the other “green close” signals gone, the setup has no ambiguity anymore so a pullback should be imminent.

CumTICKToday

The bigger picture I’ll show you tonight is very bullish with even a long term buy signal triggered, so whether you believe this rally or not, be cautious in selling short.

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