12/10/2009 Market Recap: COMPQ Black Bar


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Summary:

A little bearish biased because it seems that COMPQ black bar usually led to a short-term top.

  TREND MOMENTUM EMOTION COMMENT - Sample for using the trend table.
Long-term Up   Disbelieve  
Intermediate Down Neutral  
Short-term *Up Neutral   *Need further confirm.
SPY SETUP ENTRY DATE INSTRUCTION STOP LOSS Mechanic trading signals for reference only.
Back tested since 2002.
ST Model 12/10 L

*Long intraday.

12/09 Low

*No confidence in this trade.

Reversal Bar 12/10 L

*Long intraday.

12/09 Low

*No confidence in this trade.

NYMO Sell 12/04 S   Breakeven

 

VIX ENV        
         

INTERMEDIATE-TERM: MIXED SIGNALS

In wait and see mode. For more details please see 12/04/2009 Market Recap.

SHORT-TERM: A LITTLE BIT BEARISH BIASED

Not much to say and no idea about tomorrow. Short-term, a little bit bearish biased though, reasons below:

1.1.0 Nasdaq Composite (Daily), looks like black bar always led to a short-term top, besides it has too many unfilled gaps.

COMPQDaily 

Let’s take a look at AAPL (Really have nothing else to say, so…), as it weights above 10% in QQQQ,  so perhaps it’s the most important stock in the market. It formed a bearish reversal bar today and looks a lot like a back test to the broken trend line.

 AAPLDaily

INTERESTING CHARTS:

3.4.1 United States Oil Fund, LP (USO Daily), ChiOsc is way too low so oil could rebound soon, this is good for the stock market.

USODaily

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