We call an “All Up Day” when SPX, US Dollar, Oil, Gold and AGG bond ETF are all up on the same day. Ever since year 2007, we had 6 all up days, all had led to very unpleasant days thereafter. Some are saying that today is an “All Up Day” which I don’t agree as Oil represented by $WTIC was actually down today. However if one replace $WTIC with USO (which is the oil ETF) then we get an “All Up Day” today. I’m not saying that today is an “All Up Day” though, the purpose of this post is:
- To introduce an “All Up Day” concept so that later it happens again, we all know what to do.
- I kind think that “All Up Day” is an intermediate-term top signal not merely means a down day next day as most people have believed. And since on 3/26/2009, we’ve already got an “All Up Day”, so does this mean that we’re not far from a top? (Well, once again, you all know I don’t trust this rally, but I’m not trading against it now, so this is just a quick thought, I don’t mean to call a top. Let the market go first, as I’ve been saying.)
This is where I originally got the “All Up Day” concept: http://bespokeinvest.typepad.com/bespoke/
And chart 7.0.5 All Up Day Watch will be my char to observe the “All Up Day”.
Oh, don’t forget to check today’s report. This is in addition to today’s report. Thanks.