Thursday, October 27, 2011

Strong short signal.

FYI: Very strong short signal this morning.

When the market opened this morning, I witnessed the strongest short signal I had ever seen, ever. It was insane. As the market has weakened a bit (now 10:10am), so too has the signal. Still, if we stay near these levels all day, the short signal will be confirmed if SPY can manage a close above 126.81. See ya later!

7 comments:

  1. Thanks for the heads up. Gap fill high possibility.

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  2. I saw a similar view on my tracking system also.
    Thanks for the early morning comment.

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  3. Not that it can't continue to go up, but we are back to insane levels.

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  4. Hmmm. Interesting. I sure wasn't seeing any short signs when I ran my analysis last night.

    Note that the big three averages all broke over their 200 day MA today. Not that we might not get some profit-taking tomorrow, but I'd be hesitant to take on any much longer terms shorts for the next month or two.

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  5. Europe must have fixed all of our problems too the way this market is acting. Ride the ride!!

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  6. I say we will most likely go short. The market will want to fill the overnight gap before heading higher, being that we now broke the 200 ma resistance.

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  7. See. I told you that you had a nice system! I believe you will be correct about tomorrow.

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