Summary:
Direction is unknown.
Lack of volume could be a problem, bearish if volume cannot pick up after the holiday.
Oil could rebound.
Review major bullish and bearish signals.
1.0.3 S&P 500 SPDRs (SPY 30 min),周五正好收在阻力以下,是继续上攻还是下跌,只有等下周了。由于最下面的MACD switched to buy signal,因此俺upgrated short-term to up from down。
0.0.3 SPX Intermediate-term Trading Signals,7.7.9 Russell 3000 Dominant Price-Volume Relationships,两天的反弹,最大的问题是on decreased volume,但是从图上看8月17号的那一轮反弹一开始也是on decreased volume,因此还是没有结论,不过周二如果继续上涨而又on decreased volume的话,那俺会比较熊。
3.4.1 United States Oil Fund, LP (USO Daily),又是个空心红棒棒,因此油可能反弹,这对大盘有利。
下面Reivew一下本周陆陆续续提到过的主要Bullish and Bearish信号,个人感觉上似乎bearish的信号比较有说服力些。
Bullish Signals:
3.0.0 10Y T-Bill Yield,这是最主要的bullish信号,最近很准。
6.2.0 VIX Trading Signals (ENV10),6.2.2 VIX Trading Signals (BB),VIX buy setup的成功率还可以,不过只能说明短期bullish,而market也确实反弹了。
Bearish Signals:
6.4.0 SPX and NYMO Divergence Watch,NYMO在SPX new high的时候却是负的,从过去看,这种情况都意味着大跌。
1.0.8 SPX Cycle Watch (Weekly),上周是weekly cycle的turning week,从这周收红的情况看,上周应该是个top,另外,下面的Weekly NYSI,注意看,那么大的黑棒棒好像过去还没有就孤零零的一个就完事的,这也是说可能market还要跌。
两个地方纠正一下:
1.0.7 SPX Cycle Watch (Daily),由于stockchart.com的绘图误差,此前是当作bullish turn date来看的,不过真正的due date是周五,由于周五的反弹,现在再看,很难说是turn up or down。
After Bell Quick Summary关于ISEE Index的图有误,不是100% green close next day。6.1.9 Extreme ISEE Index Readings Watch是验证过以后的图。
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