Back to BOT short signal at 1273. Bounce theory not working.. Better to stay the course when the course set out on the weekly. Today’s action tells me that we are no building steam to bust through 1250. My theory was that volume coming down in to mid March 2011 high volume swing was too … Read more
I think we could be at a top. This is sort of a ‘rushed’ BOT short signal but I want to act on some charts I saw a few minutes ago. The market action of the last several weeks appears to be one that is struggling despite the uptrend. The structure of the advance could … Read more
I am going to try the BOT short signal here at 1315.20 on the sp500. I don’t think the tape is going to hold up today. I said I would wait until 3:55pm to 3:59pm yesterday, but we already broke down through important support lines I indicated yesterday. I am going to be aggressive and … Read more
I am starting a BOT Short Signal now at 1317 on the sp500. There are enough reasons now for me to issue this signal. I think the market is vulnerable here. The price of oil is skyrocketing and seems relentless. I am starting to think the sp500 is setting up an A B C Down … Read more
I am switching quickly to BOT Short right now. I am seeing a similar pattern starting to develop like we had in the April 2010 top. I indicated in previous posts that there was still a chance we could see supply come into the market at the 1300 range. Today could be the day that … Read more
I am re establishing the BOT short signal right now at 1266 on the sp500. There are a number of reasons for this and I will go over them later today. I feel it is worth it to try the short signal again now given how far we are up in the clouds in terms … Read more
I am trying the BOT Short Signal as of 1266 on the sp500. In my previous post I talked about the need for some type of bottoming tail on a multitude of time frames. We may start to create that bottoming tail by sometime this week. Caution is advised on the long side for now. … Read more
Yesterday’s reversal does not seem to be working. The oscillators seem to be winning out. Unless there is some type of end of day reversal again today then I have to believe we will have trend resumption down again. Switching back to short signal as of 1183 today.
Instead of hesitating I am going to just go ahead right now at 1219 in the sp500 and issue a BOT Short Signal. This could easily be another whipsaw but I am going with my gut feel right here and based on the way a lot of different chart elements are shaping up. If I … Read more
Today the sp500 printed what looks like a perfect hanging man candlestick. Since the entire rally starting in early September 2010 I have not seen such a perfect hanging man candle. It is called a ‘hanging man’ candlestick because that is exactly what it looks like, a man hanging with his legs dangling. Today’s hanging … Read more