The Naz Bullish % in pictures makes it even clearer:
stockcharts.com[w,a]wallniay[df][pf][vc60]&pref=G
On the above chart, the weekly, we haven't been above 77-78 in a long time.
This is a great tool, Gottfried. Thanks.
Now, when we look at the other great macro timer, the VIX, we are falling sharply:
stockcharts.com[w,a]dbllyiay[pf][vc60][iut]&pref=G
In general in the past the VIX has bottomed and bounced several trading days before the top was put in in the market, so, as in the posts which preceded, it's not time to short, and probably not yet time to take profits, but it's a lot closer than it was a couple of days ago. We're already below the August "sell" signal of about 31 (which most people missed, I know I did).
Too bad the VIX formulators didn't invert their signals so that the VIX could top out at tops, and bottom at bottoms, instead of the reverse. Same problem with the TRIN.
Kb |
