How about the following charts, major components of COMP/NDX...doncha think they need a rest here?
stockcharts.com[m,a]daclyymy[pb50!b200][vc60][iUh14,3!Li14,3!Lp14,3,3]
stockcharts.com[m,a]daclyymy[pb50!b200][vc60][iUh14,3!Li14,3!Lj[$SPX]]
stockcharts.com[m,a]daclyymy[pb50!b200][vc60][iUh14,3!Li14,3!Lp14,3,3]
stockcharts.com[m,a]daclyymy[pb50!b200][vc60][iUh14,3!Li14,3!Lp14,3,3]
stockcharts.com[m,a]daclyymy[pb50!b200][vc60][iUh14,3!Li14,3!Lp14,3,3]
After all, they are sum of the parts, no?
I say up tomorrow is a gift to short....ok, maybe not a whopper of a correction, but even 5-6% on NDX/COMP would be a nice return, and will the charts as such, is the smart bet that the next 100 COMP pts. are UP? Seems hard to believe, even if we are doing "only" neutral on some indicators. Max-Pain on QQQs, last I checked, was 34.....doesn't Csco have a boatload sitting at 17.5?
Yeah, many bears aren't capitulating, but the WTF ratio is pretty damn high..that's gotta count for something (maybe our small correction) |
