Wednesday, January 19, 2011

TTT Updated Come see us ....Tom

Michael ..: (13:02) Cathy/Red; are there bear flags forming TF/ES?
CathyC . 2: (13:02) if this area were to find buyers, we could see a 50% retracement of the move. beware that we still have the possibility of 789 are test
CathyC . 2: (13:03) and that we are still in a trend down day until we get definitive buyers
RedlionTrader : (13:04) adding more 790.60 same stop
CathyC . 2: (13:04) tyra also reminded me that the daily chart has 20 ema at 789.1 should offer some support
TomTheTrader ..: (13:05) I am just adding to shorts to DXD don't think it will fare well over the coming weeks ..the Dow looks extremely vulnerable Short YM short via DXD
TomTheTrader ..: (13:06) TomTheTrader ..: (10:14) DeMark exhaustion studies all went bearish as of yesterday TomTheTrader ..: (10:14) Marty dropped to neutral and Ned davis dropped to neutralTomTheTrader ..: (10:15) so they have scaled back again TomTheTrader ..: (10:15) 1st time NDR has been neutral since April
TomTheTrader ..: (13:07) TomTheTrader ..: (11:16) After advancing for four weeks straight, the market is way overbought, which means it’s getting close to a top. That’s according to Mark Arbeter, Standard & Poor’s chief technical strategist.“As of (Thursday), the NASDAQ 100 was almost 16% above its 200-day simple average, nearly equaling the overbought levels we saw in the middle of April,” Arbeter wrote in his weekly commentary. “The only other time in the last 10 years that the NASDAQ 100 was this overbought or extended was in the fall of 2007.”Investor sentiment is overly bullish, which usually signals a correction is coming, Arbeter adds. Based on Fibonacci analysis, Arbeter believes the S&P 500 could decline to 1,190 or 1,130, down 8% to 12.6% from Friday’s close at 1,293.What’s more, “equity put/call ratios remain very low while S&P 100 put/call ratios remain very high, a combination that has led to many pullbacks in the past,” Arbeter wrote. “Rydex investors are being very aggressive, something seen ma
TomTheTrader ..: (13:07) TomTheTrader ..: (11:53)  Nasdaq 100 has had a tendency to top out on the 8th trading day of January on average. There were 3 times it managed to hit a new 52-week high as late as the 11th day (1999, 2004 and 2010). All three happened to show losses of at least -6% during the following month (the same bearish bias did not exist for the S&P 500, which was positive 10 out of 13 times a month later).
RedlionTrader : (13:09) taking some off at 791.60
RedlionTrader : (13:12) moree off 792.20
TomTheTrader ..: (13:13) Target for the close 1275-177 ESH11

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