I added the
Evil speculator to my list of favorite blogs, Awesome site with a sense of humor!!
This is not a very Bullish chart, the Wms. and STO are starting to give sell signs, Wms broke out, and moved above 20, and STO is formed a hook to the downside. RSI and the BPSPX are both trending negative, diverging for the last month.
So far my counts on the SPX are still holding up quite well, and I have no reason to think that we might make a new high soon. The 1-2 down count is doing fine, but there are possible counts that show this also could be some sort of a correction, a-b-c down, we have to wait and see how the counts pan out next week. The TA is making me believe that the more bearish 1-2 is most likely at this point. The Decliners beat out the Advancers 3.1:1 on solid sell volume. We need more days when like today MSFT and AMZN blew away earnings expectations, and then the market sells-off, sort of makes me wonder what would of happened if they missed!! hehe
This is an excellent chart showing how the breadth is increasingly turning more bearish, Advancing issues are getting weaker, as the declining issues are strenthening in breadth. Avancers keep making lower lows, while the decliners are making higher highs.
Updated, 9:29, So far the SPX is still respecting the channel, but is lagging behind the TRAN, which sold-off hard first thing this morning, making a lower low, along with Utilities. My prefered count is still 1-2, down, until that count is voided by breaking 1102 with a new high I will stick with it.
Here is a really interesting chart, the NYHL, broke the trend this morning that has held since the beginning of October!!!
This is not a very Bullish chart, the Wms. and STO are starting to give sell signs, Wms broke out, and moved above 20, and STO is formed a hook to the downside. RSI and the BPSPX are both trending negative, diverging for the last month.
So far my counts on the SPX are still holding up quite well, and I have no reason to think that we might make a new high soon. The 1-2 down count is doing fine, but there are possible counts that show this also could be some sort of a correction, a-b-c down, we have to wait and see how the counts pan out next week. The TA is making me believe that the more bearish 1-2 is most likely at this point. The Decliners beat out the Advancers 3.1:1 on solid sell volume. We need more days when like today MSFT and AMZN blew away earnings expectations, and then the market sells-off, sort of makes me wonder what would of happened if they missed!! hehe
This is an excellent chart showing how the breadth is increasingly turning more bearish, Advancing issues are getting weaker, as the declining issues are strenthening in breadth. Avancers keep making lower lows, while the decliners are making higher highs.
Updated, 9:29, So far the SPX is still respecting the channel, but is lagging behind the TRAN, which sold-off hard first thing this morning, making a lower low, along with Utilities. My prefered count is still 1-2, down, until that count is voided by breaking 1102 with a new high I will stick with it.
Here is a really interesting chart, the NYHL, broke the trend this morning that has held since the beginning of October!!!
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