Sell Signal Finally

Hello All: QQQQ was up a little, but NASDAQ Advancers was something like 32%.... The up market is now narrow enough for a likely top... Tried Fib. 60-min retractment on the the last 6/7 day rally and it lines up... NASDAQ volume was up compared to NYSE volume. $NATV:$NYTV is over their 20-day Bollinger Band.... We are also overbought short term... I will be selling my QLD in the morning and buying SDS..... Good Luck to All.... Barry

Hello All:

QQQQ was up a little, but NASDAQ Advancers was something like 32%.... The up market is now narrow enough for a likely top... Tried Fib. 60-min retractment on the the last 6/7 day rally and it lines up... NASDAQ volume was up compared to NYSE volume. $NATV:$NYTV is over their 20-day Bollinger Band.... We are also overbought short term... I will be selling my QLD in the morning and buying SDS.....

Good Luck to All....

Barry

I am suspecting so, with nikkei not reacting the top could be in. It almost always when nikkei does not react to US advances that a major top is in.

When the cookie crumbles it will likely be via the NDX. It is still the bellwether. Currently the indicators I follow say the Nas in still on a buy signal, not a solid signal, but good enuf to avoid shorts just yet. The P/C ratio is still positive, the new high/lows is positive and there is still plenty of liquidity for buyers even tho the wedge has been broken. The stochastic wants to curl over and that could be the start of some selling. I do not rule out 1200 SP, or move towards 1800 on the NDX before the failure of this rally. When the down move comes it will be swift and likely drive bonds up as the first act of the flight, I am looking for that migration to go heavily short. It will not be safe to be short once it reaches the March low area. I think banks will start closing. Cash or gold will be the havens. The comments on the Nikki are interesting. The Japanese market is set up for a correction. It can come from anywhere, but NDX is my candidate. Best, Islander

Edited by Islander, 11 November 2009 - 05:35 AM.

From 1029 I think there are still two 4-5's up to go before there is any correction. "iv" and "v" of 3 of 3 and then 4 and 5 of just 3. Then the market has a decision whether from 1029 was an abc or a 123.

From 1029 I think there are still two 4-5's up to go before there is any correction. "iv" and "v" of 3 of 3 and then 4 and 5 of just 3.

Then the market has a decision whether from 1029 was an abc or a 123.

It does look like "v" of 3 of 3 from 1029 is going to happen today. I thought the "iv" of 3 of 3 would take a few hours longer.

From 1029 I think there are still two 4-5's up to go before there is any correction. "iv" and "v" of 3 of 3 and then 4 and 5 of just 3.

Then the market has a decision whether from 1029 was an abc or a 123.

It does look like "v" of 3 of 3 from 1029 is going to happen today. I thought the "iv" of 3 of 3 would take a few hours longer.

FWIW: looks like the "v" of 3 of 3 from 1029 started mid day yesterday and is probably over. Mathes the "i".
So now we are in 4 of 5 and will sit around here for awhile.

Edit: I mean 4 of 3 or C from 1029.

Edited by hawkeyefan, 11 November 2009 - 10:00 AM.