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NYSI says kerplunk


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#1 diogenes227

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Posted 09 February 2020 - 08:00 PM

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?


"If you've heard this story before, don't stop me because I'd like to hear it again," Groucho Marx (on market history?).

“I've learned in options trading simple is best and the obvious is often the most elusive to recognize.”

 

"The god of trading rewards persistence, experience and discipline, and absolutely nothing else."


#2 CLK

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Posted 09 February 2020 - 08:39 PM

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



#3 da_cheif

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Posted 09 February 2020 - 09:42 PM

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



#4 tommyt

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Posted 09 February 2020 - 11:54 PM

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


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#5 K Wave

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Posted 10 February 2020 - 09:15 AM

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.



#6 K Wave

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Posted 10 February 2020 - 10:41 AM

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.


#7 blustar

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Posted 11 February 2020 - 11:56 AM

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.



#8 12SPX

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Posted 11 February 2020 - 12:14 PM

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?



#9 diogenes227

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Posted Today, 10:39 AM

KERPLUNK One. Two, Three...

 


"If you've heard this story before, don't stop me because I'd like to hear it again," Groucho Marx (on market history?).

“I've learned in options trading simple is best and the obvious is often the most elusive to recognize.”

 

"The god of trading rewards persistence, experience and discipline, and absolutely nothing else."


#10 diogenes227

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Posted Today, 12:42 PM

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

 


"If you've heard this story before, don't stop me because I'd like to hear it again," Groucho Marx (on market history?).

“I've learned in options trading simple is best and the obvious is often the most elusive to recognize.”

 

"The god of trading rewards persistence, experience and discipline, and absolutely nothing else."