Friday, November 30, 2012

Getting OB

Starting to get overbought.
This chart shows you can stay OB for many moons.
My spreadsheet is getting close to numbers I like to see.
I think we need a little more time like Dec 2nd but stay vigilante ,
I hope 1424ish will be top end.
Tell me what the boyz in DC are doing?
We could be looking at buy the rumor sell the news.

50 dma is creating resistance.

Wednesday, November 28, 2012

Still looks up

 Lets start out with the bullish look. Here we have the Rail Roads still climbing from the 11-16 low.

Today should have been the 144TDL from May 1st-2012

The most at this time is a daily scalp  here and their.
 This is the Elder Impulse chart and still in the green despite the drop so far.
The CCI and MACD not bearish either.

 Looking at this break or not, we are hanging in there and well within the limits. The brick wall was hit but with EOM rally coming I can't get to bearish.
The vix is quiet.
The bearish look is Advanced Get gave a sell bias.
Two days in a row of inside days- unknown
The Oex PC after too days low numbers returned
to more normal 2.03 perhaps making the other 2 days equal.
The fools in Washington DC playing games with our money!
A break of SPX 1370, not expected.

Tuesday, November 27, 2012

More up

More bricks in the wall, stopping at resistance. I don't think this is a double top here but could keep us from 1420.
With today decline ( Monday 26th) that killed my OB thoughts.Will see how this resistance acts.
Inside day today is bullish to me.
Oex p/c @ .78  unknown.
As I said yesterday the high is ahead of us and will add could be early Dec. Yes Christmas and holiday sales are strong but will create buyers remorse in January 2013 and the tax man in Washington DC is licking his chops.Beware!

Sunday, November 25, 2012

On hold.

My thoughts
"As far as, can I pick a CIT here, no I can't, who can?
Sure we have a trin of .42 my source, and a Oex P/C of .58 both a rare treat and extrmemes in my book are bearish but I have everything else on the cusp.
A market that was that OS, should get at least OB.
If you take the average 5td trading points and divide
 by 2 it suggests  a 2-3 more td top.
I have a 144 tdL Tuesday that could be a high or 1 day event dn.
Maybe one more day will clear the air."