TREND INDICATOR MOMENTUM INDICATOR COMMENT (Click link to see chart) Long-term 3 of 3 are BUY Intermediate 3 of 3 are SELL 5 of 6 are NEUTRAL SPY ST Model is in SELL mode Short-term 1 of 1 are SELL 6 of 9 are NEUTRAL
BULLISH 6.3.2c Major Distribution Day Watch: Bottom is close? BEARISH 6.3.0 Major Accumulation/Distribution Days: Another Major Distribution Day ahead? CONCLUSION
SPY SETUP ENTRY DATE STOP LOSS INSTRUCTION: Mechanic signals, back test is HERE, signals are HERE.
TRADING VEHICLE: SSO/SDS, UPRO/SPXU
ST Model 02/04 S 1.9 x ATR(10) Reversal Bar 02/04 S breakeven NYMO Sell VIX MA ENV
OTHER ETFs TREND COMMENT – *New update. Click BLUE to see chart if link is not provided. QQQQ 0.0.5 QQQQ Short-term Trading Signals: Falling Three Methods, bearish continuation 71% time. IWM CHINA Down Double Top or Bearish 1-2-3 Formation? EMERGING *Down Bearish 1-2-3 Formation, target $36.34. CANADA Double Top, target $15.77. FINANCIALS *Down Bearish 1-2-3 Formation, target $13.40. *Could be a confirmed Head and Shoulders Top. REITS Measured Move, target $41.54. *Could be a bearish Stick Sandwich pattern. MATERIALS *Could be a bearish Stick Sandwich pattern. ENERGY *Down *Confirmed Double Top. OIL Could be a Double Top in the forming. GOLD Down Descending Triangle, target $91.08. DOLLAR UP Head and Shoulders Bottom, target $24.28. BOND 3.0.0 10Y T-Bill Yield: *Bearish 1-2-3 formation, target 34.43.
INTERMEDIATE-TERM: INITIAL PULLBACK TARGET MET BUT COULD BE MORE
No update, see 02/05/2010 Market Recap, Fib 38.2% retracement target was met, but I suspect there’s more. There’s a chance that after the pullback is over, we’ll see a new high followed by a bigger pullback thereafter.
SHORT-TERM: FALL ON DECREASED VOLUME USUALLY IS NOT A SIGN OF BOTTOM
Nothing to say, but since now the report contains more and more data in the table above (I hope you like the idea) and the stock screener (which, I guess, you’re unsatisfied. Don’t worry, my screener for longs should be very good. For shorts, actually, I think bearish ETF is much better.), so I have to find something to say everyday. And here comes what I made up today: 0.0.2 SPY Short-term Trading Signals, fell on decreased volume plus not many oversold signals, so I tend to believe the market is not bottomed yet.
If the market is not bottomed, then beware of the next prophecy: 6.3.0 Major Accumulation/Distribution Days, Major Distribution Day seldom comes alone, this means there’ll be at least one panic sell to new low ahead, unless a Major Accumulation Day steps in first.
STOCK SCREENER: For fun only, I may not actually trade the screeners. Since SPY ST Model is in SELL mode, only SHORT candidates are listed. For back test details as well as how to confirm the entry and set stop loss please read HERE. Please make sure you understand the basic risk management HERE.
Today’s screener has 1 stock. Just please don’t forget the entry rule, it’s not a short yet.