18 replies to this topic

[redfoliage2]

The signal remained in Bearish mode at the close today.

A gap-down looks in the cards for tomorrow.

Edited by redfoliage2, 05 May 2016 - 05:26 PM.

[redfoliage2]

I see the reason that the market went no where today is that it's waiting for tomorrow's employment data.  So, it's more likely that the index futures will stay in the narrow range overnight even though the VST signal is in bearish mode.   However, we should see a resolution after the data is out.

Edited by redfoliage2, 05 May 2016 - 07:40 PM.

[redfoliage2]

The data was out and the futures resolved down.  But I see It just needed an excuse to go down regardless of the data as the big top was just confirmed and should be much lower from here ...........

Edited by redfoliage2, 06 May 2016 - 07:40 AM.

[dasein]

do you mean THE big top in all indices? for the rest of the year?

 

tia

[redfoliage2]

My analyses are on NAZ and SPX.  The big top for the 7-yr bull market was recently confirmed and of course that also means the top for the year.  Look at the big H&S on NAZ daily, I see it will be much lower ..........

Edited by redfoliage2, 06 May 2016 - 08:04 AM.

[redfoliage2]

NDX H&S:

 

http://stockcharts.c...id=p14474884662

[redfoliage2]

The signal stays in bearish mode.

Edited by redfoliage2, 06 May 2016 - 09:49 AM.

[redfoliage2]

Let's see how the VST support at SPX 2030 is to be tested................

Edited by redfoliage2, 06 May 2016 - 09:53 AM.

[redfoliage2]

The signal turned Neutral. 

It looks there have been strong intervention from the forces.  Let's leave the support test to some time later.