Saturday, October 15, 2011

One word! update

Update for Friday OE:

The PC ratio at 1.90 is bullish with the $spx+vix indicator bearish for Friday.
Still on a sell but all we have done is go up and down. If Tom Demark couldn't call it today on Bloomberg how can I ??

Official sell was Friday close or open today.
Look for spx 1163 soon

INSANELYOVERBOUGHT !!!!!!!!!!!!!!!!!!!!

Jan 2011 to pending OE in Oct 2011 on Spx.

We think the high is normally Thursday of option week but facts speak different.

Jan 2011 Blue week High Monday, Low Thursday

Feb 2011 Blue week Highs Thursday Friday, lows M-Tu

March Blue week High Monday , low Wed, then sharp rally

April Blue week High Monday, Low Thursday

May Red week Low Tuesday High Thursday

HOY so far May-2-11 @ 1370 spx

June Red week High Tuesday, Low Thursday

July Red week High Monday, Low Thursday

August Green week High Monday,Low Friday

September Green week low Monday, high Friday

Oct in play

So net net the chances for a high are Monday and a low Wed/Thursday, or visa versa if Monday is a low, so watch for the action vs the last Friday for clues. Monday could have a big trading range failure. Monday is the key to OE week.

Jerry O

Wednesday, October 12, 2011

Going to a sell/update

Thursday Chart for Friday click to enlarge.

Up late tonight checking my facts. We have tested 1220/1230 several times (Spx). My numbers are right where I want them. A few have gone extreme.
I will be shocked if we can do anything but go down after Thursday market.
So putting it on the line here we could /should be heading for Spx 1086 or a retest of the low.
All in Oct.

What ever higher high we have in next 2 days should be it. Wed the 12th is a blue day and this rally started on the 4th also a blue day.
We have the PC ratio at 2.03 and other numbers I use getting to over bought levels.
I have 1193 then 1184 as signs of weakness. SPX
We should have an am high and then start to flounder. Not a one day event.