Haim; Thanx for mentioning the low VIX, here is some ugly stuff
I sent Monty.
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Mind you it's mostly short term, Monty sends me the 10, 20, 200
DMA every day I keep a spread sheet on them, it's a work
in progress..but when indexes go UP , while the 10, 20 , 200
all go down it's very very narrow few stocks that took the
indexes UP.. nothing advanced over it's 10, 20, or 200..
except in the NDX and S&P400..in fact they went the other way
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So with the VIX low..it's a perfect set up to fall.
One last thing the TRIN did it's rise, and the tick spiked
( on a few stocks ) all those signs generally precede a
down day..
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So here is what I sent Monty.
Monty; I got the data thanx, haven't plugged it in yet
but can see plain as day the S&P 500 is set up for a fall,
or looks that way to me. THE index was up , and the 10,
20, & 200 were all down..
On the SMALL 600 the 10 day was down as the 20 went up..
sign the leaders backed off..on a day she was up too..
UP days in the index if they are worth a shit should at
least show some improvement in the over 10 DMA..
not a drop..in other words some stocks below the 20 DMA moved up
but them above the 10 DMA moved down..not a sign of any
leadership.
The RUT was also weak all the way across..10, 20, 200 DMA's
all down and again what makes it alarming is the frigging INDEX WAS UP..
I can't buy that crap as healthy.
Crossed swords all over again..the bulls better find a damm
cave to get in.
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THE NDX and S&P400 didn't look as bad as the rest..but shit they
won't hold when every thing else goes to hell.
What's helping both of them is they share a few of the
tulip stocks..& some of the smaller nuts..
Jim
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Ps to all I'm not just negative I'm short, so consider
I'm talking a position if you will, but I have my money where
my mouth is.
I'm giving up on the Profunds , shit I can short the qqq as
good as they can.
The advantage I saw was not as good as it first looked,
and it's to much hassel.
techstocks.com
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Jim |
