24 replies to this topic

[dTraderB]

Yes, that was a down day as most had expected and the internals warned us about the weak market during the previous sessions. 

 

However, all it is so far is a down day in the midst of several days up, and we must note the impressive bounce from yesterday's lows that cut the drop by 50% and took SPX above the 2900 level.

One data point is not a trend; SPX has to finish below yesterday's lows to maintain this bearish tone.

JOBS report is usually spun bullishly but the skittish bond market may tank if nudged by any data in the September NFP

 

ST Long, IT Short

 

ST LONG exit stop @ SPX 2898.5

IT SHORT exit stop @ SPX 2904.2

 

[OEXCHAOS]

Somehow, cumulative A/D Volume is positive.

There's very likely more downside, but we're quickly going to reset a lot of indicators and generate some good Buys.

 

What we need is a sharp rise in pessimism to really launch the end of year rally.

 

M

[12SPX]

Yes, that was a down day as most had expected and the internals warned us about the weak market during the previous sessions. 

 

However, all it is so far is a down day in the midst of several days up, and we must note the impressive bounce from yesterday's lows that cut the drop by 50% and took SPX above the 2900 level.

One data point is not a trend; SPX has to finish below yesterday's lows to maintain this bearish tone.

JOBS report is usually spun bullishly but the skittish bond market may tank if nudged by any data in the September NFP

 

ST Long, IT Short

 

ST LONG exit stop @ SPX 2898.5

IT SHORT exit stop @ SPX 2904.2

 

 

Such a breath of fresh air, your comments always go both ways, just like the site says "traders talk"!  Love reading them thanks....

[slupert]

Somehow, cumulative A/D Volume is positive.

There's very likely more downside, but we're quickly going to reset a lot of indicators and generate some good Buys.

 

What we need is a sharp rise in pessimism to really launch the end of year rally.

 

Uncle Buck headed higher, equities headed  lower until that correlation is broken. (JMHO)

[slupert]

oops. computer illiterate, didn't mean to make it look like I added to somebody elses quote. sorry about that.

[dTraderB]

Now that they have crushed the over-exuberant bears who sold the JOBS report, they will take it down. Let's see brave bears get in to sell, again. 

 

If they do, then SPX could hit ar least 2880 today; if not then a big up day is most likely.

 

[dTraderB]

I have long heeded the words of a great trader:

your book may not be the same as the market's moods & intentions, at least on a short-term basis 

[redfoliage2]

After yesterday's capitulation in NYAD, NAAD, NYSI, NASI the internals now should lead the market higher from here into the earnings season that is to kick off next week.......................

[OEXCHAOS]

After yesterday's capitulation in NYAD, NAAD, NYSI, NASI the internals now should lead the market higher from here into the earnings season that is to kick off next week.......................

 

Soon, but maybe not just yet. I hope not. We need enough time to get some bears again!

 

M

[CLK]

Sentiment actually went out a point higher yesterday from Wed. after all the downside.