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Wednesday, December 15, 2010
A 2nd Hindenburg Signal along with the After the Close updates!!!
2010.....The Rally from Ben...
Bulls are complacent, Bears in hibernation..... all because Ben was afraid of deflation..
Obama got his ass kicked in the midterm election... Now he has to turn to Clinton... for direction.
Everything seems rosy, when its really in deep sh*t... Next thing they'll announce is a total market reverse stock split!
Inflation and stocks will just run toward the Moon... Another artificially induced ...stock index balloon.
Policy has run a muck.... Bulls dont seem to give a f**k... Easy money brings out greed...
Who needs mathematic solvency, when the bulls have a chance to stampede!?
When it all implodes..and resembles a septic tank....
Just remember to thank..... 'the Bernank'.
Theres a time to laugh..a time to cry... A time to sell....a time to buy.... But its always the time to tighten your stops... Because an 80% run up in a year... is due for one Mother of a DROP!
Brought to you by, Miss Malibu!!!
The SPX is still selling-off from the highs in a corrective fashion with over-lapping waves, which really push the odds for the best count as still in a small degree 4th wave, with possible higher highs still to come. If a top were already in the SPX should be impulsing down with a marked increase in volume and breadth, both of which has not happened as of now. The minor median line still is working as support as the SPX got hung-up on it this afternoon and was never able to break down below it.
We did get a second Hindenburg signal today with all the requirements fulfilled. New 52 week lows finished at 93 issues, and new highs at 157. Wikipedia has updated the conditions for the Hindenburg Omen including the number of new highs/lows that are required are now up to 2.8% of the total issues which works out to 84 issues. other improvements include that we now need 3 signals with-in a months period, and The NYSE index is greater in value than it was 50 trading days ago instead of the older rule were the 10 week MA must be rising. These changes should really help eliminate some of the false signals, a much needed improvement!!!
So we now only have two signals and still need a third within the next 28 or so days to get a confirmed signal, and with the way the SPX is consolidating this week, I do not think it will be a problem at all to get more signals in the next couple of days as long as we stay range bound and do not have any large moves to the upside.