Click picture to enlarge.
5-Day Momentum. S&P = yellow.
Price Momentum = blue. Intraday behavior = pink.
For Tuesday (3/24) the Up/Down Indicator is .46 suggesting
a negative bias for the Stock Market.
The S&P interval = 7 points.
I expect the market to pullback in the next couple of days.
Then the rally should continue.
8 comments:
Do you have a target for the pull back?
What is the AD volume chart saying now if I may ask?
Will,
one more question. Do you follow $CPC and ISE sentiments? What is your reading on those readings that are extreme?
Thanks!
Will,
I saw the post the last night that you deleted , the chart looked the same, however the indicator showed a +0,50 for neutral.
This morning it says 0.46 for negative.
Could you explain this?
Not saying anything about anything, just humbly asking b/c you and your trades are impressing.
Kind regards
John
John,
I was having problems with Internet access during the afternoon.
I accidentally published the post.
At the time it had the default of 0.50
I don't think I had the post up for more than a couple of minutes.
It's a conspiracy! ;)
Will-
This looks like THE BIG ONE to me. What's your target for this move. I can easily see 40-50% on this one. That should take me well into the black for 2009 and back to old highs in my LT accounts.
MarkM
Will,
It's good to see MarkM back on this board. He made a good call on lower lows back in November but I have trouble believing that this rally makes it through the first week of earnings seasons with legs. We're all looking forward to your ideas on this. Best.
SS
SS-
My thinking is that this collapses later in the Fall. As far as earnings season goes, they have really lowered the bar quite far there and anything "less bad" will be interpreted as good news as long as the bulls control the agenda. Right now, they do. Great bank "operating earnings", anyone?
Let's see what Will says for a target.
MarkM
MarkM & SS:
At this point I think that the SP 880 level can be reached.
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