I checked that vix chart during the day and saw that triangle forming-
tick hit +1000 almost twice -g-
Basically, I am in agreement with your views but, damn, that was a nice turn around today -
Summary of Don's chat yesterday (notice that he did have a daily class 1 on the semis)
EDIT - I just realized - this rally will put us at mid-range just in time for the fed meeting -g-
Chat Notes 6/23 8:30 PM
Daily Signals:
DOW, SPX, OEX: LOWER MIDRANGE
These 3 also have IDENTICAL THREE BLACK CROWS on the daily chart.
NAZ: CLASS 2 BUY, also has an INVERTED HAMMER.
RUSSELL: MIDRANGE
SOX: BORDERLINE CLASS 1 BUY, with Imperfect THREE BLACK CROWS.
USD: CLASS 1 BUY (ON THURSDAY).
If the USD closes at or near the lows on Monday it will move toward being a
Negated signal.
Weekly Signals:
DOW, SPX, OEX, NAZ, NDX: CLASS 2 BUY
SOX: BORDERLINE CLASS 1 BUY
Monthly Signal:
USD: IDENTICAL THREE BLACK CROWS
Regarding the new indicator which Lee developed with Donald, it currently has a
slightly higher than TWO BAR reading from late last week. The signal is taken on
a weekly basis.
Because of the THREE BLACK CROWS any run up or bounce in the market has
a good chance of coming back down and retesting the low creating a double
bottom, which could make for a good base from which to rally. A TWO BAR
reading has signaled a 20% or more move up in the market.
Donald would like to see the signals line up as a closing CLASS 1 BUY before
placing long positions. He is paying particular attention to the S&P signal. |
