This chart was presented a few days ago under "Quantum State".
I had suggested that the market was about take a quantum leap.
The current reading of 100 for the Percentile(in yellow), indicates
that the deviation of the SP over its 14-day EMA is at the highest
notch.
This is consistent with a strong but overbought market.
Click chart to enlarge.
5-Day Momentum Indicator, last 100 days. S&P Index = yellow.
IB = Intraday Behavior(pink). PM = Price Momentum(blue).
For Thursday (3/19), the Up/Down Indicator is .45 suggesting
a negative bias for the Stock Market.
The S&P Interval = 7.5 points. Use 12.5 with increased volatility.
I bought QID today(posted real time) for a ST trade and will sell
it in a day or two.
2 comments:
Will, the market feels very toppy. How is your AD volume chart doing?
I'm still waiting for a break down to get into short trades. Do your charts indicate a retest of 666-750 area?
Solace for those caught with their "shorts" down, Will?
You're not just a whiz forcaster. You're also a funny guy.
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