The Piker Indicator flashed oversold/Go Long yesterday. Below is a chart of the last 4 oversold/Go Long signals- the signal is the White Candle Stick. A possible rally of 5 percent is very possible, as long as SPY remains above 133.13.
The Piker Indicator flashed oversold/Go Long yesterday. Below is a chart of the last 4 oversold/Go Long signals- the signal is the White Candle Stick. A possible rally of 5 percent is very possible, as long as SPY remains above 133.13.
Sentiment in the market has been pretty bearish, especially with just a drop of 1% this week. If you recall this post last week, we looked at CPCE over .79 with the VIX under 20. We noted that if VIX stayed below 17.94 the market should rally, if it got above it, the market...
SPY closed this week down a little over 1% but reading the news, looking at sentiment and watching the market intra-day it one would have thought the market collapsed. Instead we had a market that continued to establish a battle field. Neither Bulls nor Bears would concede ground this week. Yes the market appears weak if...
The bears were pounding their chest this morning as futures indicated the market would continue its move down the world was over after the European elections. The bears were ready to eat some bulls, but once again the bulls showed that until the bears can managed to break support they will always get rocked....
Since good ole operation Twist started the Ten Year has remained in a tight range giving good buy and sell signals. Whenever TNX went above 2.10 the market sold off- as seen with this post. Whenever the Ten Year yield dipped below 1.86%, the market rallied. Today TNX dipped below 1.86% only to close...
Below are two charts showing centered around CPCE the Put/Call Ratio. On Thursday the CPCE hit .79 with the VIX below 20. The charts below indicate other times when this has happened. The .79 CPCE is not a high number at all but in looking at it with a low VIX it is. What...
The market has chopped around since its breakout on 4/25, staying in a tight range for the last few days. Yesterday SPY dipped to the uptrend line and found support there and at 138.99. Clearly this is the level to break if there will be any move downwards pressure. A new resistance level...
Here is one chart which shows the bulls might be having the slight edge here. It shows the 10 year and SPX since Operation Twist started, when the Ten Year began to remain below 2.4% . The pattern here is each time the Ten Year yield got above 2.10% the market has declined lower....
