Weekend Report
Everyone invested in the market should watch it.
That information, combined with this:
Friday Report
Explains why the markets have been lackluster bullish for several weeks.
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Its been odd...
I have been hanging out in the FreeTradingVideos chat room during trading hours. Nobody there wants to believe their eyes. Even with all of this horrible news, the market still goes up!
Notice this daily $Tick (market sentiment) chart...
I am noticing that the last three highs and lows were lower, and recent action seems to be reaching for a breakout low. What this indicates is that even though Price in the SPY has generally been moving up, there are more NYSE stocks moving down than up. That is somewhat of an apples to oranges comparison, but remember that the SPY only sees 500 stocks. It is expected to catch up some day.
The key here is to not hold any investments long-term, except possibly a small short or two, and only trade what the charts show at the moment.
Beware... the bears are coming.... the bears are coming!
Update: In reading through the last several posts, I seem to have been mixed in reporting market direction. I stand by those reports. Taken as a whole, it indicates a choppy market observed on differing time-frames. This effect may be indication of a topping action, loss of momentum, and pending trend change. As the first video mentioned above points out, the weekly chart is still firmly in the bearish camp. Trade accordingly, but observe opportunities to profit from bull rallies on shorter terms... that's all we can do, other than sit on the sidelines waiting for a better market in which to invest.
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