Friday, March 11, 2016

Newer noiseless charts

Looking at my unch chart we see it getting more overbought. That can mean complacency or excess!Yes it is overbought a signal yet,NO!  I have studied this chart back years and see the 83% line as a buy/sell line. If we are below that line and it cross's it is a buy. So we need to see the OB  line come down to the 83% to get a sell.  Thought's it could lead to one last overblown rally.

Next chart is the $BPSPX and after a strong climb it has finally leveled off. Again not a bear till it starts down.
My thoughts is it is a lager not a leader but still has to follow the script . So looking for divergences as alway's. These are simple charts to (kiss) keep it simple stupid.
Live EOD

Jerry O
ps Draghi wants to buy corp bonds, banks want him to buy  non performers. I think he is killing his banks.

So far no overlaping of wave 1 so still bearish lean 

Monday, March 7, 2016

Trying to find overvalued

This is a live chart updating EOD     I show the UNChanged and how overbought it gets at highs.
So we are close to a turn down.
Then there are other OB/OS like the RSI   vs the SPX and NYA
Friday the rally seemed to peak in late afternoon. This is based on stocks that were much higher and then either closed unch or lower. Was this the overbought mkt peak?
Today added the MACD + some OB/OS areas with guidlines.

Updating my Fib chart and notice the change in date from April 15 to April 21 as I had looked at the wrong date. Thanks Kevin.

You will notice the boxes. The last signal was 144 fibs and we dropped in 9 days 111 SPX points
(2104-1993) If history repeats the mkt should enter that box at some level as a high.
Jerry O