Summary:
Some bullish percent indexes hit record high.
Short-term may still have a little up room but a short-term top should be very close.
INTERMEDIATE-TERM: SOME BULLISH PERCENT INDEXES HIT RECORD HIGH
Follow up:1.2.0 INDU Leads Market,终于close above 9794了,very good,不过前面报告里提到的1.1.2 PowerShares QQQ Trust (QQQQ Weekly)已经到达阻力区了,后续如何发展有待观察。
到目前为止的rally,有两个问题:
1. 5.0.5 S&P Sector Bullish Percent Index I (Weekly),5.0.6 S&P Sector Bullish Percent Index II (Weekly),很多Bullish Percent Index已经是record high了。
2. 1.2.1 Dow Theory: Averages Must Confirm,TRAN没有confirm INDU new high。俺之所以强调这个none confirm是因为最下面的BDI lag,这样,以船运,卡车,火车和航空为主的TRAN,单凭航空就能new high吗?另外请注意一下上次SPX Bullish Percent Index介么高的时候market是在啥位置。
结论就是较大点的correction还是可能的(俺靠,no西红柿please!),但是不知道啥时候。
SHORT-TERM: COULD STILL UP A LITTLE BUT A TOP IS CLOSE
1.1.3 QQQQ Short-term Trading Signals,黑棒棒意味着离top不远了。而从1.1.5 PowerShares QQQ Trust (QQQQ 30 min)看,可能是个Ascending Triangle,text book target around $43.07。1.0.3 S&P 500 SPDRs (SPY 30 min),有兴趣也可以看一下,是个Symmetrical Triangle。因此结论是可能还有些上升空间(假如周一没有黑棒棒的第二个预言,gap down的话),不过应该离top不远了。8.1.5 Normalized CPCE,normalized CPCE还不够extreme,因此也支持还有些上升空间的说法。
INTERESTING CHARTS:
3.1.0 PowerShares DB US Dollar Index Bullish Fund (UUP Daily),周五的volume巨大,是不是意味着US$ bottom了呢?No idea。下面是最近几次UUP volume new 130 day high的visual test,见蓝色棒棒,好像是顶的情况居多哈。当然俺不是暗示这次是顶,俺只是说volume surge,并不一定bullish,要看后续的follow through。
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