Market Position

GRAPH < Signal>

This summary of OEX stocks above the line suggests confidence and trend in the markets. (not much of either today).
Overall, too much still turns on the EU and its resolution of banking and fiscal events for much confidence, but EU markets positive.

When the oscillator falls below 60 % line (red line upper quadrant) the OEX , the market is a sell (for me at least).

When a stock or index is above the 100 Day EMA, I feel free to trade long, when below the 100 EMA I am short or in cash.

Holding lots of cash recently, and watching EU and Congress.

Today: Trading SPY and QQQ (expect another valiant announcement from Europe.)

Getting my fireworks ready, Best Islander.

Mainly news driven with low volumes swing. Today we got the econo data market likes. But tomorrow there will be job data and GDP out in the morning which recently have not been good.

Edited by redfoliage2, 27 June 2012 - 11:36 AM.

Exactly, and I agree with you on sentiment for tomorrow and Friday. Sort of running the knife edge. Fireworks are just outrageous this year, no selection and prices suggest inflation. Going to see the Indians. Best, Islander