Click chart to enlarge.
5-Day Momentum Indicator, last 100 days. S&P Index = yellow.
IB = Intraday Behavior(pink). PM = Price Momentum(blue).
For Monday (3/23), the Up/Down Indicator is .53 suggesting
a positive bias for the Stock Market.
If the market is up significanly, however, I woud favor
shorting.
The S&P Interval = 7.5 points. Use 12.5 with increased volatility.
3 comments:
I understand you shorted the market at the open. Is this going to a daytrade vs longer duration? My QID, FAZ and TZA are at a slight loss or even but well above my stops. You were very correct to sell QID on Friday. I did not have that insight. Was that based on intraday tick?
This is really painful. This past week has been a good argument of caution with regards to charting & the stock market. I lost money getting in/out of QID according to the timing last week. My short options, after having bought this AM while the DOW was up at $150 are now well out of the money.
While the current market might be "overbought" according to charting, it doesn't seem prudent to be following charting techniques to determine ins/outs when the overall market is down 40% short and seems to be quite oversold. And this, on top of very bullish news piling on.
Steve
Very bullish news such as skyrocketing unemployment and falling profits?
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