Saturday, January 26, 2013

AAPL fills gap 3rd chart dn.

I have had this gap chart for months, findly gets filled or very close.
I have not looked back to see where next support should

                                                                                This charts looks like it could turn down.Indicators I have used for years  not working in this bull run. One problem I have is vol % refused to get overbought.
the fact we are up 8 TD in a row means nothing. Back in 2003 and 2004 we had a few 8-9 TD runs and other than a few days pullback it was up and away again. This bull is getting too much press a barrons or some cover could call the top.                                         

Thursday, January 24, 2013

Weird Wind

Wednesday  23rd Mkt.
The Dow up 80 points at one point all on the dime of IBM.
A little weaker on adv and little strong on declines.
OEX P/C ratio .85 after being at 1.00,2.00 and even 5.00 of late.
You would have to go back to 11-26-12 to see a low in that area and the next day was down.
The upvol today was down on an up market.
The vix+ spx = dn tomorrow. (70%)
Strangely the tick and trin were very close to 11-26-12 numbers.
Remember this all happened before The AAPL effect.
We have a cycle low Thursday

We could have the first down day in 8TD.
Best Jerry O