Lisa,
Hope I can explain it. A TTD just normally happens after a big drop as we had last week. It did on the 3 previous drops in APR,AUG,OCT.
Subjectively, I am going back and forth as to whether we will have the TTD start tomorrow since we are right in the middle of earnings with many reporting over the next 2 days. I have always stated that the fundamentals/news can over-ride the technicals, and there is plenty of news coming out with the earnings and the good Asian market reversal.
What I saw was a very healthy market today with normal divergences. This is giving me the impression that the TTD may not start tomorrow.
Per my note yesterday, I was looking for the DOW to lag the NAZ as it did yesterday as a signal that the TDD will start, but that signal never appeared. Actually the DOW and the NAZ today moved very close to each other which is a healthy signal.
The technicals are only in the mid-range which means it can go either way.
So let me say it this way, technically it should start to come down, but if the news from earnings are perceived good and Asia is still up then the fundamentals/news are taking over and not permitting the TTD to start at least for tomorrow.
I was look for a finite signals and did not get them, so I will say that the market still has a slight bias to the upside for tomorrow.
Lets see how ASIA does, I want it to be up since I am still holding onto the JPN calls. >>> gggggggggg <<<
Seeya |
