Summary:
Still range bounded.
Market was topped when SPX was at or close to a new high while NYMO was below zero
Black bar on QQQQ daily chart usually means a top is close.
Bottom line,still range bounded,因此还是方向不明。从0.0.3 SPX Intermediate-term Trading Signals上看,SPX一直受压于Rising Wedge resistance,能否breakout,nobody knows。Personally,俺比较倾向于是向下。
Elliott Wave International周五的报告说可能market top了,大跌即将开始,理由之一是C = A * 0.618的理论target到了。不过这一说法,好像很多数波的都不同意。嗯,俺倒是有2个证据,不一定说大跌开始,但至少有比较高的几率SPX离short-term top不远了。
7.0.8 SPX and NYMO Divergence Watch,SPX new high而McClellan Oscillator却跌到了0以下,这从过去的情况看,至少是个短期顶部。
1.1.3 QQQQ Short-term Trading Signals,黑棒棒意味着,1. 第二天低开;2. 离顶部不远了。
最后引用一段John Murphy周五的Market Message供参考:
The two up arrows show bond yields turning up three months before stocks in 2009. Both rose together into June when bond yields peaked. The August move to new 2009 highs by stocks, however, hasn't been confirmed by a similar move in bond yields (see falling green line). When two markets are positively correlated, and one of them starts dropping (bond yields), that's usually an early sign that the other one (stocks) may start to drop as well.
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