INTERMEDIATE-TERM: RISE TO 03/08 THEN PULLBACK TO 03/16?
See 03/05 Market Recap as multiple Gann days are due around 03/08 and 03/16 and the market is pretty overbought so the logic guess is it could pullback from around 03/08 to around 03/16.
Overall according to the past II pattern, I believe eventually we’ll see a bigger correction. Just for now except for the Gann theory arguing that 03/08 could be a major top, I have no other evidences supporting an imminent big correction.
SHORT-TERM: MORE TOPPING SIGNS
还是看pullback。今天又多了很多topping sign,简单的列一下吧。
0.0.1 Market Top/Bottom Watch, NYDNV too low, see red dashed lines.
0.0.6 Nasdaq 100 Index Intermediate-term Trading Signals, NAADV MA(10) too high, see red dashed lines.
0.0.9 Extreme Put Call Ratio Watch, both CPC and CPCE are too low, see red dashed lines.
2.0.0 Volatility Index (Daily),又是根黑棒,还是有反转向上的可能。
下面的图是自2002年以来,VIX and SPY both green for 2 days in a row的情况,见红棒棒。Info only,不是说是top哈,虽然有一半机会。
今天的Selling on Strength看一下,IWM的Block Sell有点大,220 / 406 = 54%。上次这么大是01/14/2010。
1.0.9 SPX Cycle Watch (60 min),right at cycle due hours,看明天啦。
STOCK SCREENER: For fun only, I may not actually trade the screeners. Since SPY ST Model is in BUY mode, only LONG candidates are listed. For back test details as well as how to confirm the entry and set stop loss please read HERE. Please make sure you understand the basic risk management HERE.
Since the intermediate-term direction is not clear, so no stock screeners from now on until the dust settles.
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