Tuesday, April 12, 2011

Sell but getting OS

Above EW can't go below 1301 or the count is wrong. I think we are probably at a bottom 1310 but a 8-9% upvol day could call the low. The trend up is still strong it appears so a pullback like we are having will be light pullback.
What has me puzzled is the vix just not considering a pullback here. Is their a surprise coming?

Bottom chart we see the % of stocks above 50 dma right at the border of a sell. Unless we have a big down day not expected I don't think we get the sell on this indicator.
On the upside I think 1320 then 1328 spx kicks off a rally.


Monday, April 11, 2011

VST sell

I have gone to a very short term sell.
AGET suggests a wave 4 target of 1317 to 1310.
One weird thing is the vix dropped to day with market down. VIX+SPX say's rally tomorrow about 70% accurate. Market is so tight no one knows what we are wait for, but could be the 27th as Bernanke has first open press conference