Hey all, here are the latest readings from my proprietary stock market indicators. So how do I interpret the tea leaves as they currently lay? S&P is entering a seasonally weak period from Mid September to Mid October. Liquidity issues are being addressed by the Fed before anything “bad” has even happened in equity markets….
Something tells me this advance still isn’t healthy. The S&P continues to be range bound since early August and currently is in the vicinity of that upper bound.
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If J-Hole doesn’t yield some fresh money printin’, this puppy is rolling over like it wants its belly rubbed. For the most part, the selling has abated. However, we never really reached exhaustive selling judging by my medium term indicator. That’s a shame.
In spite of the ultra short term indicator seemingly giving us a potential “buy” signal, I’d err on the side of caution. None of the other usual indicators are showing oversold conditions yet, and the next support lines are the 200 day moving averages for the S&P. VIX is displaying some potentially positive behavior in…
It’s hard to believe I’ve been publishing my indicators and ideas since October 20th, 2009 – starting with my thelastcanary.blogspot.com blog – which now has over 145,000 independent views in spite of zero marketing. Certainly have been wrong plenty at identifying tops, but also certainly right in identifying tradeable bottoms in each leg of the…