9 replies to this topic

[diogenes227]

From the link:

 

 

Anyway, the market after a break of its December/January uptrend line, took another shot and manage another high on SPY (among other index ETFs) last week but dropped back down below the January high (332.95) to close at 332.20 Friday.

 

Not such a big deal except the NYMO after the rally off a double-bottom earlier in the week (see the white line with the red dots on the chart below) fell with the price weakness to turn the all important NYSI (longer-term breadth) negative.

 

That’s an automate sell on its own but there’s maybe more…

 

For the more and a chart:

 

SPY - Up, up, up...and Kerplunk?

[CLK]

Good luck shorting uptrends, I don't give much weight to NYSI, lags too much, NYMO and NYAD are ok.

[da_cheif]

From the link:

 

 

Anyway, the market after a break of its December/January uptrend line, took another shot and manage another high on SPY (among other index ETFs) last week but dropped back down below the January high (332.95) to close at 332.20 Friday.

 

Not such a big deal except the NYMO after the rally off a double-bottom earlier in the week (see the white line with the red dots on the chart below) fell with the price weakness to turn the all important NYSI (longer-term breadth) negative.

 

That’s an automate sell on its own but there’s maybe more…

 

For the more and a chart:

 

SPY - Up, up, up...and Kerplunk?

the 9th is the full moon   watch the sky   ...   https://www.siliconi...?msgid=32540137

[tommyt]

Good post, yes the setup is there for aggressive traders, with a close stop.

[K Wave]

Looks like possible  "checkmark top on QQQ to me...

 

And the glaring weakness of the Trannies is worth noting here...although another move above 11K would make me substantially more bullish there.

But back below last weeks' lows would likely be extremely bearish now, as weekly stuff has already begun to roll over.

Next few days could give some possibly very important intermediate term clues on the Trannies.

[K Wave]

Big disconnect between NDX and SOX now...

 

This may be final surge on NDX right here...

 

Back under NDX 9450, and it is probably a short..

Edited by K Wave, 10 February 2020 - 10:41 AM.

[blustar]

This is a Y Wave of a larger "B" wave and we have a double top on the Dow 30.  I see a large drop or Z into the end of the week then new highs by next week. The recent rally was thinly traded.

[12SPX]

This is a Y Wave of a larger "B" wave and we have a double top on the Dow 30.  I see a large drop or Z into the end of the week then new highs by next week. The recent rally was thinly traded.

What happened too the 7-8% drop is that out the door now?

[diogenes227]

KERPLUNK One. Two, Three...

 

[diogenes227]

TVIX - 61 per cent in the two weeks since the broad-market kerplunk.