The NYSE Summation index has broken its uptrend line, and its 21
day MA uptrend line.
All these indices are a permanent part of the resources
available on the blog, so please visit and click through these
links for a look at the guts of the market (internals).
I have screen capped all the resources below, so you can just
scroll through. Fundamentals are bearish, of course. But we trade
prices, not fundamentals.
The TED Spread looks like it put in a double bottom in
September. God do I hate these Bloomberg charts -- it is almost
insulting on how they present data. However, if you have a spare
$40,000 per year or whatever it is, you can get the real Bloomberg,
which is basically unmatched in all the financial industries. I
used to have access to it.
The S&P Bullish Percent Index is heading upward again,
bouncing off the 2007 highest level achieved. One could Place a
rising wedge pattern on this.
The McClellan NYSE had a small 4% change on Friday. This
portends a large move, in the next day or two or maybe three,
however, the direction of the move is not known from this
indicator.
If futures open down, I will sell on weakness, Sunday
afternoon.
You may have noticed on my Chart of Charts that there is a
huge amount of stocks that are forming patterns that could break
out. This adds to the likelihood of a big move as predicted by the
McClellans small move Friday.
3 Banks Blew up and were taken over by FDIC on Friday. Pretty
consistent, 3 or 4 banks blow up every Friday.
I ran across this other blog that just had an amazing
assortment of links to various economic data
Check it out
http://ibankcoin.com/chart_addict/
Econoday posts that Consumer credit is contracting at a
continuing steep pace, while the consumer debt to income ratio has
gone from a steady 23.5 to around 22.5. So even though incomes are
going down, consumers are paying down their debt even faster.
Remember the consumer is 70% of the economy, and financial
gimmickry is 29% of economy, leaving the remaining 1% to the few
people in this country who actually produce a product! hehe, OK
that's an exaggeration.
Per Investors Intelligence, percent bears has actually been
going up of late. Hmmm....
Indicator charts compiled together
Posted by steveo on 11th of Oct 2009 at 06:31 pm
The NYSE Summation index has broken its uptrend line, and its 21 day MA uptrend line.
All these indices are a permanent part of the resources available on the blog, so please visit and click through these links for a look at the guts of the market (internals).
I have screen capped all the resources below, so you can just scroll through. Fundamentals are bearish, of course. But we trade prices, not fundamentals.
http://oahutrading.blogspot.com/2009/10/indicators-and-get-out-vote.html
The TED Spread looks like it put in a double bottom in September. God do I hate these Bloomberg charts -- it is almost insulting on how they present data. However, if you have a spare $40,000 per year or whatever it is, you can get the real Bloomberg, which is basically unmatched in all the financial industries. I used to have access to it.
The S&P Bullish Percent Index is heading upward again, bouncing off the 2007 highest level achieved. One could Place a rising wedge pattern on this.
The McClellan NYSE had a small 4% change on Friday. This portends a large move, in the next day or two or maybe three, however, the direction of the move is not known from this indicator.
If futures open down, I will sell on weakness, Sunday afternoon.
You may have noticed on my Chart of Charts that there is a huge amount of stocks that are forming patterns that could break out. This adds to the likelihood of a big move as predicted by the McClellans small move Friday.
3 Banks Blew up and were taken over by FDIC on Friday. Pretty consistent, 3 or 4 banks blow up every Friday.
I ran across this other blog that just had an amazing assortment of links to various economic data
Check it out
http://ibankcoin.com/chart_addict/
Econoday posts that Consumer credit is contracting at a continuing steep pace, while the consumer debt to income ratio has gone from a steady 23.5 to around 22.5. So even though incomes are going down, consumers are paying down their debt even faster. Remember the consumer is 70% of the economy, and financial gimmickry is 29% of economy, leaving the remaining 1% to the few people in this country who actually produce a product! hehe, OK that's an exaggeration.
Per Investors Intelligence, percent bears has actually been going up of late. Hmmm....
Here's the NYMO McClellan Oscillator
Posted by matt on 11th of Oct 2009 at 07:08 pm
Here's the NYMO McClellan Oscillator