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Strategies & Market Trends : General market lab and commentary

SPY 671.91

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Nov 14 4:00 PM EST

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From: Robohogs	4/9/2016 7:03:19 AM
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I have had more time to read and digest. Skew had me leaning bullish Monday (wanted to be bearish btw) but now that I study nymo chart more closely, I think my timing is off. I think we may have a whole 1-2 weeks bullish and then go down later. The reason for my change is oscillators have gotten to slight oversold from highly overbought. That is not ideal but enough given Feb/March strong bull trend. But what is informing my view is looking at MACD on the NYMO chart. It is at the bottom of page and curling up at a level it has done the same from 3x before. EVERY time it keeps going. That implies rally in breadth. Oil just started up again too and could have higher wave targets. I changed mind on a dime. Maybe we fight skew and go tag some MAs Monday and then go higher but we should be generally up for 1-2 weeks. I must say these trading blogs are highly bearish btw. Everyone talking about some esoteric pattern and why it HAS to indicate crash now. I refuse generally to read zh at all. But went over on a link and saw some piece that some hedge fund that is killing it with shorts wrote. Argument is nikkei is canary as Japanese fund the world. Their market leads ours and 1500 on the way. Yen move is confirmatory - Japanese are pulling funds back. It is interesting that all other uber bears crash the system with yen collapse btw. I find myself really having to fight not running around like a headless chicken after reading some of this stuff. One guy says trading range mkt from 1800-2100 will likely break on downside with 300 down target. We are right against top currently but break will be down. Lots of doomsday, scary stuff. And next week is opex week, one of the 4 strongest of the year btw with best gains relative to losses if up but slightly lower odds of up. And opex weeks stronger to begin with. I thought I showed this chart in March but could find it nowhere here it is.

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