7 replies to this topic

[ogm]

I understand there is enormous glut of liquidity that everyone knows about. And excitement outright parabolic in the DOW, but... RUT is underperforming last few weeks, and XBD too. As a matter of fact today XBD is RED, despite dow being up more then 120 points. MCO's are red too, and summations falling. And summations made second lower high as the DOW is making higher highs. Feels like most of the action is in the headline dow, and a little bit in S&P. The rest of the market is pretty dormant.

[Cirrus]

Though it's OPEX--it's the third day in a row of 2.0+ OEX P/C.

[Russ]

Though it's OPEX--it's the third day in a row of 2.0+ OEX P/C.

Is that good? ES seems to be double topping on lower volume right now.

[Mtrader]

These companies benefit from the dollar devaluation. Dow is going to 13750 b4 retreat.

[Cirrus]

It's been gold as an indicator since the late 90's. Spikes in the 10 DMA of the OEX P/C have lead to IT corrections at nearly a 100% accuracy rate. What's interesting is that the MA of the ratio has been rising and more recent spikes have not batted the traditional near 100% level of calling for weakness. The 21 DMA has done really well too as it's called all the IT corrections in the SPX. The absolute level of the ratio is extremely high by recent historical standards. My view on the current market context is that if the XAU doesn't get movng to the upside soon we are in for a very sharp correction. I don't think time wise it will last longer than a couple months give or take but I do think it will be sharp nonetheless.

[Russ]

I have a signal that the HUI gold bugs index will go down into mid july, then it would be a fantastic buy.

It's been gold as an indicator since the late 90's. Spikes in the 10 DMA of the OEX P/C have lead to IT corrections at nearly a 100% accuracy rate.

What's interesting is that the MA of the ratio has been rising and more recent spikes have not batted the traditional near 100% level of calling for weakness. The 21 DMA has done really well too as it's called all the IT corrections in the SPX. The absolute level of the ratio is extremely high by recent historical standards.

My view on the current market context is that if the XAU doesn't get movng to the upside soon we are in for a very sharp correction. I don't think time wise it will last longer than a couple months give or take but I do think it will be sharp nonetheless.

[Cirrus]

Unfortunately, it seems like there are several people who think July will be a low in the SPX and gold--me included. I'm beginning to wonder if it happens that way.

[Russ]

I see the low for the SPX on June 14-15.

Unfortunately, it seems like there are several people who think July will be a low in the SPX and gold--me included. I'm beginning to wonder if it happens that way.