08/21/2009 After Bell Quick Summary


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OK, I admit I was wrong. The “n vs n” setup didn’t work this time and I’ve stopped out as soon as SPX 1018 was broken.

NvsN

I expect a red close next Monday, because CPC and CPCE are way too bullish. Counting the dashed lines in the following 2 charts, apparently the odds are high a red close the next day.

CBOE 

CPC 

CPCE

Because today is a Major Accumulation Day (NYSE Up Volume : NYSE Down Volume > 9) so from the chart below we can see a pullback if any after the Major Accumulation Day is usually shallow.

MADWatch

Enjoy your weekend!

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