Seven Sentinels - Follow Up

Unless this market develops some real internal strength very soon, the opportunity will be lost for the time being to get a 7 of 7 positive crossover, i.e., buy signal, because the momentum measures are starting to show signs of deterioration. Only a sudden expansion of internal strength immediately can rectify that. The market charts its own course- all I can do is listen to its message and respond (or wait). D

Today's "sudden expansion of internal strength" may be enough. Breadth is better than 3 to 1 on NYSE; new lows, so far, have dropped off to under 300 versus over 700 yesterday, etc. So far on track. But the internals will need to follow through from here, or no cigar.

A signal here would likely define the trend for months to come. As said, I'll let the market decide. Final numbers will be in at 6 PM. I'll post again then. D

Many thanks IYB for the timely update.

Unless this market develops some real internal strength very soon, the opportunity will be lost for the time being to get a 7 of 7 positive crossover, i.e., buy signal, because the momentum measures are starting to show signs of deterioration. Only a sudden expansion of internal strength immediately can rectify that. The market charts its own course- all I can do is listen to its message and respond (or wait). D

Today's "sudden expansion of internal strength" may be enough. Breadth is better than 3 to 1 on NYSE; new lows, so far, have dropped off to under 300 versus over 700 yesterday, etc. So far on track. But the internals will need to follow through from here, or no cigar.

A signal here would likely define the trend for months to come. As said, I'll let the market decide. Final numbers will be in at 6 PM. I'll post again then. D

i you do indeed turn out to be right then i deserve a medal or some sort of trophy for buying after hours yesteday!!!!that would be the low print !!!!!!!!

i deserve a medal or some sort of trophy for buying after hours yesteday!!!!that would be the low print !!!!!!!!

You are a great counter trend trader.

Unless this market develops some real internal strength very soon, the opportunity will be lost for the time being to get a 7 of 7 positive crossover, i.e., buy signal, because the momentum measures are starting to show signs of deterioration. Only a sudden expansion of internal strength immediately can rectify that. The market charts its own course- all I can do is listen to its message and respond (or wait). D

Today's "sudden expansion of internal strength" may be enough. Breadth is better than 3 to 1 on NYSE; new lows, so far, have dropped off to under 300 versus over 700 yesterday, etc. So far on track. But the internals will need to follow through from here, or no cigar.

A signal here would likely define the trend for months to come. As said, I'll let the market decide. Final numbers will be in at 6 PM. I'll post again then. D

Don, The tick stinks so bad it is not even funny....

i you do indeed turn out to be right then i deserve a medal or some sort of trophy for buying after hours yesteday!!!!that would be the low print !!!!!!!!

can i get a little piece of that medal i just added 50% on to that position and moved stop to new b.e.

Don, The tick stinks so bad it is not even funny....

So's the trin

i deserve a medal or some sort of trophy for buying after hours yesteday!!!!that would be the low print !!!!!!!!

You are a great counter trend trader.

thanks...wouldnt advocate it..not worth the stress

Unless this market develops some real internal strength very soon, the opportunity will be lost for the time being to get a 7 of 7 positive crossover, i.e., buy signal, because the momentum measures are starting to show signs of deterioration. Only a sudden expansion of internal strength immediately can rectify that. The market charts its own course- all I can do is listen to its message and respond (or wait). D

Today's "sudden expansion of internal strength" may be enough. Breadth is better than 3 to 1 on NYSE; new lows, so far, have dropped off to under 300 versus over 700 yesterday, etc. So far on track. But the internals will need to follow through from here, or no cigar.

A signal here would likely define the trend for months to come. As said, I'll let the market decide. Final numbers will be in at 6 PM. I'll post again then. D

Don, The tick stinks so bad it is not even funny....

Agree about the tick...it's weak. The other side of that arguement is the markets ability to advance despite a weak tick. It's a bear market and the trend is down. I think the maximum downward momentum of the majority of stocks has been reached. That's just a guess though and until it's confirmed later this year the bear needs to be respected.

We're in no man's land right now WRT support and resistance. I would have to believe that most IT and LT TA bulls are stopped out here WRT the SPX and bears are looking to short the 750 area. It's definitely an interesting area. The financials and stocks exposed to the financials are now so low they are having a hard time driving the indexes down. My take is we're still delevering the financial system but most of that is behind us.

Russ Winter (usually bearish) has an interesting viewpoint as he compares cash in MM funds and the market cap US markets. The maximum level reached in the 2000-03 bear was 27% which means that there was 27% of the capitalization of all US stocks in MM accounts. We are sitting at 40% now or slightly more. I think we could be overdue a rally that lasts a little longer than many thing...perhaps into mid spring.

Edited by Cirrus, 04 March 2009 - 01:42 PM.

i you do indeed turn out to be right then i deserve a medal or some sort of trophy for buying after hours yesteday!!!!that would be the low print !!!!!!!!

can i get a little piece of that medal i just added 50% on to that position and moved stop to new b.e.

yes, nicely done!