Seven Sentinels Daily

All Seven Sentinels went to sell again today, and ordinarily I wouldn't consider that to have any special significance. But here I do, precisely because we were on the the verge of a new SSBS earlier this week. The buy signal didn't happen; it failed to materialize, and this reaffirms the sell signal still in effect. And the only thing that has more fury than a woman scorned is a Seven Sentinels Signal failure followed by an opposite signal. The single holdout was the BPCOMPQ which failed to turn up (sufficiently) to give it's individual buy, and it has now turned decidedly down again, highlighting the weakness of the internals. ECHO has pointed out here a number of times recently that the NASI (McClellan summation on Nasdaq) is already in bear market territory - even as this market has been making new recovery highs. Considering this internal weakness, the distribution of recent weeks, key reversal patterns, weakness in the financials, and insider selling, I think this market has some real weakness in store for holiday shoppers. Good Trading all, D

I am seeing that, but look at the replys given going short....entirely negative comments!! I can't help myself but to go short. EVERY dayfrom 1090s levels

All Seven Sentinels went to sell again today, and ordinarily I wouldn't consider that to have any special significance. But here I do, precisely because we were on the the verge of a new SSBS earlier this week. The buy signal didn't happen; it failed to materialize, and this reaffirms the sell signal still in effect. And the only thing that has more fury than a woman scorned is a Seven Sentinels Signal failure followed by an opposite signal.

The single holdout was the BPCOMPQ which failed to turn up (sufficiently) to give it's individual buy, and it has now turned decidedly down again, highlighting the weakness of the internals. ECHO has pointed out here a number of times recently that the NASI (McClellan summation on Nasdaq) is already in bear market territory - even as this market has been making new recovery highs. Considering this internal weakness, the distribution of recent weeks, key reversal patterns, weakness in the financials, and insider selling, I think this market has some real weakness in store for holiday shoppers. Good Trading all, D

I think it is more sideways action for a month or so from high 1040's back up to test high again say 1090's to keep holiday stores from a total nuking Don' Don hehe. Everyone is a genius when the market is going up lets see what Happy new year brings.

There's like seven or eight days of the Nasdaq TRIN being under 1.0 on subpar volume and the OEX put-call ratio took a jump after being low last several days... But most importantly there are treasury auctions next week and the market is all about liquidity. So I'm thinking the market will selloff into early next week and then we'll see. If the market absorbs that well I can see higher highs into late November into a top of more importance due to even bigger treasury auctions coming down the pike afterwards. This is taking into account continuing Fed injections. I still believe the market will start collapsing before the end of q1 next year due to the expiring of the 1.25 trillion govt jam job. Once the govt is finished fixing the spx the market will return to being a function of the psychology of market participants. TA will work much better. There won't be this silliness of the Nasdaq making new highs after the summation index dropping that much. The one thing that won't work is oversold...as oversold will only become more oversold when the Fed runs out of ammo. Things that would get me more bearish would be a raising of the debt ceiling and an acceleration of govt debt offerings.

All Seven Sentinels went to sell again today, and ordinarily I wouldn't consider that to have any special significance. But here I do, precisely because we were on the the verge of a new SSBS earlier this week. The buy signal didn't happen; it failed to materialize, and this reaffirms the sell signal still in effect. And the only thing that has more fury than a woman scorned is a Seven Sentinels Signal failure followed by an opposite signal.

The single holdout was the BPCOMPQ which failed to turn up (sufficiently) to give it's individual buy, and it has now turned decidedly down again, highlighting the weakness of the internals. ECHO has pointed out here a number of times recently that the NASI (McClellan summation on Nasdaq) is already in bear market territory - even as this market has been making new recovery highs. Considering this internal weakness, the distribution of recent weeks, key reversal patterns, weakness in the financials, and insider selling, I think this market has some real weakness in store for holiday shoppers. Good Trading all, D

I think it is more sideways action for a month or so from high 1040's back up to test high again say 1090's to keep holiday stores from a total nuking Don' Don hehe. Everyone is a genius when the market is going up lets see what Happy new year brings.

I think it is time to be long the Beta Chase stocks; the ones trending up and short the broad market, especially the small caps and other domestically focused companies. The S&P has been in a 50-60 point range for the past three months now and given the breadth deterioration, very unlikely to go to 1200 without a significant correction.

This is summer of 2007 deja-vu when the breadth was crashing but the market and especially select stocks like the four horsemen were rocking.

Edited by aviat72, 13 November 2009 - 03:10 AM.

Don - I got only one IT sell short signal yesterday off the 40 short ETFs that could have given me a signal. That one was for ZSL (silver) and it was weak. My work supports more upside next week before a lasting top.