Shack, I'm with you on not betting against the fund flows and the Fed. PERIOD. end of story. Both have more money than I do! ggg super gg
I can't tell you how much I have left on the table betting that a top was in, or at least it hit resistance and the market is weak, and say "I'm outa here." While the Fed pump was running day and night. ngng Just to see us run on up.
I've looked at the VIX hard and long, closing at 19.60 or so tells me that there probably isn't much up side to play with. On the other hand the RSI values say we could have another pop to the upside, but this implies the VIX has to stay here or float lower. On the other hand, the other day we had an island reversal on the NDX and yesterday we had an inside day (bearish). And, and them 'ole pesky stochastics on the dailies say we could go down a bit here. hmmm.
I think something else has to be said here. If you consider the Fed pump running flat out, I mean B I G time, the VIX way down here, why aren't we at OEX 800? NDX 2500? Even NDX 2000? Latin for this is "smellus ratus"! gggg
I guess if I had a real firm set of indicators one way or the other all the time that would take all the fun out of this. gggg
If you and AA and Velo take all this stuff and throw it in the trash can and just do the Ewave thingy on it what is the prognosis? Seems as if folks are waiting on the big 5 wave down, but what about between now and then, or are we starting it now and being thwarted by the Fed pump?
signed (confused) ggg
Paul K. |
