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Seven Sentinels Sell Signal


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#1 IYB

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Posted 18 August 2009 - 09:43 AM

Consistent with the signal I got from the Seven Sentinels, I sold all longs, and now am fully short via TZA (long at 16.50) for now, but will diversify over coming days. Good trading to all, D
“Men, it has been well said, think in herds; it will be seen that they go mad in herds, while they only recover their senses slowly, one by one.” Charles Mackay, Extraordinary Popular Delusions and the Madness of Crowds

#2 IndexTrader

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Posted 18 August 2009 - 09:47 AM

Are you viewing your "context" as a bear market or a bull market? IT

#3 IYB

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Posted 18 August 2009 - 09:56 AM

Are you viewing your "context" as a bear market or a bull market?

IT

Very tough call IT, but I am leaning towards the belief that this last push was a head fake, and that the bear will resume. However, I absolutely reserve the right to change my mind on that if I have to. :lol: ;)

Edited by IYB, 18 August 2009 - 09:59 AM.

“Men, it has been well said, think in herds; it will be seen that they go mad in herds, while they only recover their senses slowly, one by one.” Charles Mackay, Extraordinary Popular Delusions and the Madness of Crowds

#4 securelstmile

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Posted 18 August 2009 - 09:58 AM

Are you viewing your "context" as a bear market or a bull market?

IT

Very tough call IT, but I am leaning towards the belief that this last push was a head fake, and that the bear will resume. And I absolutely reserve the right to change my mind on that if I have to. :lol: ;)



The toughest calls are usually the most profitable. I'll take tough over easy any day of the week. You are a class act IYB.
The harder I work, the luckier I get.

#5 Cirrus

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Posted 18 August 2009 - 10:00 AM

You could get this one Don as far as an IT move....who knows. The ONLY problem I have is the potential for a "Holy Grail" buy on the SPX. The ADX is above 30 and we just got a retrace to the 20dema. It needs to rally to trip, though. We are also in OPEX. Given the momentum and recent run of NHs I would have to think Indextrader's idea of 'pounding out a top is more probable. This is the problem with 'blockbox' type systems like the sentinels. The market continues to morph in style over time. I think this is why you added some subjectivity to the sentinels. Things I don't like here is the falloff in volume and action in key sectors like energy and the XAU. Sentiment is also bullish but perhaps not overly so which you would expect IF this is a new bull. All that aside I'm sticking with winners on the long side and still trying to take jabs at ST shorts here and there. I have 'bull market' on all my KISS stuff---above 50 wemas on major indexes and slopes all positive. Many use similar stuff. Perhaps this would be an area to look for an IT correction of sorts but we'll see.

#6 NAV

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Posted 18 August 2009 - 10:21 AM

Intraday SPX 992-93 is tough resistance. Let's see what happens after that, if at all we get there.

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#7 goldswinger

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Posted 18 August 2009 - 10:33 AM

Cirrus, how could you call this a new bull market, just take a look at the volume, and that's with high frequency trading, PPT working full time, etc.

The only buyers are the now infamous Cheif, his accomplice Humble and maybe you , IT and IYB ...oh! sorry he's back on our team again.

http://stockcharts.c...p...4&listNum=1

GS.

#8 diogenes227

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Posted 18 August 2009 - 10:36 AM

Just stopped out my wild guy ETF short basket -- SPXU, TZA, FAZ -- for a 5 percent gain from Fridays NYSI short signal. Yesterday appears to be a classic case of too far, too fast.

Will watch the bounce on this basket to short again unless the NYSI goes positive.

Good trading to all.

The NYSI short

"If you've heard this story before, don't stop me because I'd like to hear it again," Groucho Marx (on market history?).

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#9 eminimee

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Posted 18 August 2009 - 10:41 AM

Intraday SPX 992-93 is tough resistance. Let's see what happens after that, if at all we get there.


I've got my eye on OEX 460.30 fwiw
ps..with a possible impunitonic c=a at 990 es......and vxo fills a gap at 25.88

Edited by eminimee, 18 August 2009 - 10:48 AM.


#10 eminimee

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Posted 18 August 2009 - 11:25 AM

PPS...I've got a target of at least spx 967...providing we don't get a 15 min bar close over 994.50