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Market Internals 2013-04-19
2013 Apr 19 Fri 21:12:44 | by
My monthly update on market internals.
The current snapshot of S&P 500 3-Day Advance Issues, Tick16 Short Term + Long Term as of 2013 April 19 close.
Reading
1. Long Term Tick16 (yellow line) below neutral zone.
2. Short Term Tick16 (red line) moved into oversold zone.
3. 3 Days Advance Issues (green line) diverged from new low printed by S&P
Inference
a. #1 is bearish pointing to trend sell mode
b. #2 points to a bounce is due until the line is back to neutral zone
c. #3 strong new momentum low points to start of down trend, or as a minimum end of the current up trend. The divergence points to a potential short term bottom in the making.
Last update predicted a swing long was coming. I did not expect that turning into a major short squeeze / blow-off top off the double bottom in the 3-day advance issues.
The current selloff in progress now is different from the previous one as the strong new momentum low in 3-day advance issues usually points to significant down side risk. Thus counter-trend long should be taken with precaution that they may fail easily.
Gold Reached First Downside Target
2013 Apr 15 Mon 17:09:56 | by
Spike and ledge first target reached.
As long as the baseline of the spike and ledge acts as resistance, the next target below is in play.
Bitcoin Charts Is Down After Bitcoin Drops In Price By 20%
2013 Apr 10 Wed 19:45:39 | by
Visit the main real-time charting site for Bitcoin just now and I got this.
It was unreachable earlier when Bitcoin was down 20%.
It is reportedly down 40% at this point.
It is always a bad thing for markets not being able to keep themselves open when people starts to panic.
It induces more panic selling.
IB has gone full margin on JGB and all other related Japanese financial instruments. Here we go again. ...
Taken off preferred list? http://news.yahoo.com/goldman-takes-apple-stock-off-preferred-list-190919393.html As we all know GS market calls are almost always oppose to what their prop desk does. And their prop desk has been contributing significantl ...
My monthly update on market internals. The current snapshot of S&P 500 3-Day Advance Issues, Tick16 Short Term + Long Term as of 2013 March 19 close. Reading 1. Long Term Tick16 (yellow line) below neutral zone but not dropping 2. Short Ter ...
What happened in Cyprus is exactly the type of events I warned about and why money has to be parked in hard assets that are not exposed. If you do not know what is happening with Cyprus, this is a good Q&A from Guardian, http://www.guardian.co. ...
Last Friday Moody downgraded Cable after US stock market closed which led to a melt down within minutes. Making the situation worse, it was the last hour of the week that many traders like me always close their positions during this last hour. One ha ...
Gold 8 hour chart below. At quarterly 50% expansion target, also lined up with monthly. For gold to stay bullish for the coming months, it is important that it stage a fight at this price level. ...
My monthly update on market internals. The current snapshot of S&P 500 3-Day Advance Issues, Tick16 Short Term + Long Term as of 2013 Feb 17 close. Reading 1. Long Term Tick16 (yellow line) below neutral zone but not dropping 2. Short ...
