The Trin & $Nyad closed at what are usually a bullish
levels, this imho does not mean buy today but it is
something to watch.
At the same time the $vix didn't move up that much for a day
that saw the Dow down 160 at one time and the indicators on that
look to go much higher. When the Vix does breakout of the upper BB
that will be the time to start looking to go long.
Posted by macksurf on 11th of Jul 2011 at 05:39 pm
I don't think that the VIX is a very good indicator anymore.
Definitely the VIX closing outside and then back inside the BB's is
still a great SPX buy signal, but IMHO the $Dollar is the tail
wagging the dog right now.
I totally agree Mack, and it looks like it would take till the
end of the week to do that at best unless we see a crash. Otherwise
I suggest everyone stay on the sidelines till more indicators give
valid signals. If you are short, great but take some profits off
the table as these top out.
$trin & $NYAD
Posted by ditch on 11th of Jul 2011 at 04:28 pm
The Trin & $Nyad closed at what are usually a bullish levels, this imho does not mean buy today but it is something to watch.
At the same time the $vix didn't move up that much for a day that saw the Dow down 160 at one time and the indicators on that look to go much higher. When the Vix does breakout of the upper BB that will be the time to start looking to go long.
VIX
Posted by macksurf on 11th of Jul 2011 at 05:39 pm
I don't think that the VIX is a very good indicator anymore. Definitely the VIX closing outside and then back inside the BB's is still a great SPX buy signal, but IMHO the $Dollar is the tail wagging the dog right now.
I totally agree Mack, and
Posted by ditch on 11th of Jul 2011 at 06:52 pm
I totally agree Mack, and it looks like it would take till the end of the week to do that at best unless we see a crash. Otherwise I suggest everyone stay on the sidelines till more indicators give valid signals. If you are short, great but take some profits off the table as these top out.
Nice charts Ditch! I think
Posted by puma on 11th of Jul 2011 at 04:33 pm
Nice charts Ditch! I think you're right about watching the VIX for more fear. Thanks for all the posts!
You are welcome Puma, and if
Posted by ditch on 11th of Jul 2011 at 05:31 pm
You are welcome Puma, and if you saw the post I did about the AAII numbers last week they too say there are now too many bulls.