So you feel like a bag of assholes when you roll out of bed? Or your back feels like you’ve been sentenced to the life of Sisyphus? We’ve all been there. So immediately you think let me roll up to the Urgent Care for a “steroid” shot – obviously. The such sweet sorrow of needle…
Last post’s guidance still stands. This isn’t looking like a low risk time to buy. Wait patiently for the next opportunity.
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.
Ultra short term is back to extremely overbought levels. Short term is oversold. Medium term is only slightly oversold. Long term remains neutral with a slight increase lately.
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…
Ultra short term is quickly back to overbought levels. Short term never really reached extremely oversold levels. Medium term is not that close to historic extreme oversold levels. Long term continues to exhibit uncertain behavior.