3 replies to this topic

[Rogerdodger]

With such a drop in bearishness at tickersense (70% bullish/bearish ratio),
The VIX dropping out of the bottom of the BB,
price pushing the magic 1200,
TRIN pretty low,
I would expect a bit of a reaction soon.
But what else is new?
Maybe like Jan 11th?

http://stockcharts.com/c-sc/sc?s=$VIX&p=D&yr=0&mn=8&dy=0&i=p26499043395&a=179964330&r=3582.png
Just don't get turned into a toad by the top picker sirens!

Edited by Rogerdodger, 12 April 2010 - 08:57 AM.

[Rogerdodger]

This was posted at Laundry's weekend update. (April 11th LINK)
It looks like shorts have left town.
Which can reduce the fuel needed for rallies in the short term and may explain a bit of the recent strength.
The first red spike is in late March '09, interestingly Tickersense shows a similar drop in bearishness at that time, as it does for this week.
There was a 50~ point price drop in late March '09, perhaps following this short covering, I'm not sure.
But as we know, 400 SPX points later, it was not an IT top.

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Edited by Rogerdodger, 12 April 2010 - 09:24 AM.

[Islander]

This morning INO told the market that SPX 1179 was ST top, support 1171, upside target 1233. OIL 84.77 ST top, 97.31 = 50% retrace, Dollar sideways to lower Gold 1184 target, but 1122 = ST top. Laundry was uncommitted on Sunday - "go either way". Best, Islander

[IYB]

With such a drop in bearishness at tickersense (70% bullish/bearish ratio),
The VIX dropping out of the bottom of the BB,
price pushing the magic 1200,
TRIN pretty low,
I would expect a bit of a reaction soon.

I have been expecting a reaction for the last 50+ points. I sold half my gold and most of my other stuff Friday and this AM - again. But I'm quick to add longs back in if I "have to". If/when we finally get an SSSS, I will take it seriously, btw- at least for a tradable move before the last hurrah of this IT uptrend. Good trading, D