PST
March 5, 2008
2 :00 PM
Just thinking of a possibility here, I think the worst think that could happen for people that are bullish, is the market tries, and rallies into the close on Friday, setting up even more divergance on some intraday indicators.
 
12: 30 PM
Monthly Rimm chart.

12 Noon
OBV has gotten worse, we could still see a lot more selling this week.

9 AM
Hourly OBV is looking good if you are bearish here on the OEX, hourly RSI may also be ideal to go short here.

Just might be mentioning the chart below tonight. Is this is it or are we on the verge of making an attempt to tag 580 on the OEX? One other note, we have a signal from our Volatility Indicator.


March 4, 2008
2 PM
There is some hope that the gaps on the upside may get filled before our Bradley turn date on the 9th as NYA hourly OBV, did head higher while the others were heading lower so it is possible we could get some major market swings going into the turn date.

12:30 PM
They have left a big door open for more downside I think going into Friday. We almost hit a new low on hourly OBV.

8 AM
Small crash configuration, the Dow target I have been mentioning may be a lot lower now, look how the support lines have channeled down now.

7 AM
Not as tired today. We still have not deteremined if Friday may be a high or low. If we continue down all day there is a good chance it may be a low. Best shorts on rallies we may get in the coming years may be the Russell, and Rimm. Rimm has quite a few gaps that may end up getting filled on the downside from here.

Yes we should look for shorts, the NDX system is still on sell as well. For daytraders you may find a good short entry point, five OEX points from here if the Gann line just above comes into play.

March 3, 2008
1 15
It may be shaping up for Friday to be a high here. My thinking right now is to put a few short positions on, going into Friday.

12 PM
It could get very bad here as daily MACD may go on a sell if the market does not recover.

11 AM
The only good quotes I am getting is on the NYA. We may get a significant turn this week looking at the weekly RSI that may tie in with the turn day on Friday/Monday. This week may hold up so far looking at some indicators.

8 AM
Another day that I am getting bad quotes. Let see if we get a rally we can short again. We may and try and grind up all day today as hourly RSI was looking oversold on Friday.

Sorry to get back on the subject on how we can save oil, but it makes me mad when politicians get on about not using plastic bags to save the environment when people are driving cars that burn up our oil. When the world does manage to switch over to hydrogen fuel to power cars, hydrogen fuel can be taxed just like gasoline is, so that revenue stream would not be lost to governments. Hydrogen fuel tanks are safer than gasoline ones to. Please, start a campaign to make gasoline illegal in the next 50 years now!

Please do not expect this blog to always be updated, I do have a serious illness, and  will try to give notice of when it will be updated. You may have an idea now from the times that I have noted. This was one of the reasons we stopped the paid service. Please remember this market correction is in part due to a serious housing market crisis. I feel sad for these people, these are people's homes. I was close once to getting married, and having it all. We just could not get on the same page.  If we are lucky, we may have some kind of rally this week as some of my daily indicators may be close to bottoming, but we may need some more work on the downside still. Dow, 11,700 may still be possible before we get a rally.


Feb 29, 2008
11 AM
Hourly  RSI is showing signs we may stop soon. Remeber this a minor Bradley day today. We may just fill the gap on the downside. I am currently flat. I have no interest in playing the long side even though there is a slim chance we could get a rally on Monday. Have a great weekend everyone. :)
 
7 30 AM
This does not look good right here as I am not seeing any big gaps to the downside, which would be somewhat bullish to me. I am also getting bad quotes. What may be of help to the bears, RSI is not oversold on the daily, but is looking oversold on the hourly.

Would love to write more tonight, but my MS is bad. Here is another view of the Dow triangle I have talked about. People that have followed this site may be ahead over 200 Dow points to the downside on this last trade. What bears want to see tomorrow is a close near the bottom of the triangle. More conservative option traders may want to close out half of their position if we get a plunge.

Feb 28, 2008
1 15 PM
Should be interesting after I update tonight, so far everything has gone as planned. We may get some kind of turn on Friday if that Bradley indicator is correct.

7 35 AM
The only question to me is how much of a bounce we may get from here. We could get another chance to short tomorrow again. The rest of the day may be boreing. Good luck everyone, I may post before the close.

I am very tired tonight, taking a quick look, there looks to be some minor Bradley turn on Friday. The main one does not appear to have a turn until after the first week March. There is something to note though, the upper Gann line looks to be at 644 if we continue to go up here.


Feb 27, 2008
12 30
Looks like it was a good entry so far, I do not see a breakout here yet as my NDX system is still on a sell as well. We may get a few more days of this kind of market action, but I remain bearish as the Russell chart I posted below still suggests a possible break to the downside.

9 AM
Diverging RSI setting up on the hourly for some shorts here.

7 AM
The Momentum Cycles has been updated. Just to be stubborn, I wonder if it was not for the IBM news yesterday if our Feb 14th high would not have been taken out.

The market is still working from a very oversold state so please do not be surprised by any rally that may develop. No ideal short trade may develop here, the Russell still offers some promise of further downside, and so does the NDX. The Russell has not broken out of the triangle shown below. It may just want to catch up to the others from here if we do not get weakness soon.

Feb 26, 2008
2 30
Just receved the new Fibonacci Trader. Has some great new features where you can download end of day quotes from Yahoo.  Has a Bradley add on that you can get. If  I am reading this right, I see two of them turning over right here, then one will make a turn again within 5 days it looks like.  Would be nice to get an hourly MACD turn from here to, if I am reading them right.

12 20 PM
I think there are two bond auctions coming up Wednesday, and Thursday. That may be some hope for the bears if they are not well received as MACD may be maxed out on the hourly here. The Russell also has filled a gap on the hourly. There is still a gap higher on the daily about 80 SP points from here.  That has to be where this market may go if we get a good hiccup during these auctions providing the selling is not overdone.

9 30
Looks like we need to fill some gaps on the daily charts still before this market heads back down. Too many people are short I think, and the high on the 14th was taken out. I do not think there will be any more updates today.

7:30
We need more volume if we are to get a good down push here other wise we may just base for the rest of the week. The high on the 14th is still intact.

So are we really going to break out to the upside? We should know first thing in the morning, all we may get is the Dow filling the gap on the hourly. Then we may see all the indexes roll back down. I am sorry I do not have an interest in the long side tonight.  We are almost at the 50 day on the Dow while the rest of the indexes are lagging. The larger triangle below on the Dow may be in play.

Feb 25, 2008

3 PM
Just noticed, a small move up closes the gap on the Dow hourly.

Cycle section has been updated. Momentumcycles
OBV also needs to pick up on the hourly if we are going to break above the Feb 14th high.

12 45
I do not think hourly RSI is setup so we would get a good rally from here. The only other positive for the bears is, I do not think we have moved higher than high from the turn date on the 14th.

8:45
The high on the 14th, still has not yet been broken.

Lots of room left on the downside for the Dow on the wedge everyone is talking about.

Feb 23, 2008
Here we go,  the week should start off interesting with intraday RSI quickly becoming overbought due to the bounce we got. Notice the Russell still finished down. I am still expecting the break to be to the downside, but we can not ignore the possibility that there may be some news out there that is capable of starting a 50% retrace to the 660 level. I do not think that will start for another two weeks if it is to happen. PSI may need to go to an oversold state before a good rally starts. We may be close to getting a move up in the VIX from here now.

Feb 22, 2008
12 50 PM
That was a rather delayed bounce, it still looks like the break will be to the downside next week. Nothing has been resolved yet though. Have a great weekend!

11:10  AM
We are still stuck in the range, bet still is the breakout will be down. Hourly RSI is a bit oversold so we may get some kind of bounce from here.

Here is an old Gann chart I forgot I had saved. Multiple Sclerosis is not fun, when you find you had a great chart sitting in a work space one forgot about, that pretty well nailed the top. You can see the importance of the 600 level.  We may still get one big swing to the upside as this market seem to be heavily shorted so be prepared. Bears will want to see VIX pull away here. Here are other Gann targets.



Feb 21, 2008
The Dow has to test the 200 week moving average. When that happens, the other averages may try, and test their 200 week averages from below, where we may get to go short again. I may post more tonight if my chart updates suggest  to me something else may be happening.

Close
I think the market may show it's hand when the Dow may test the 200 week moving average, sitting around 11475, in the coming weeks. Not much of a bounce for the OEX, or the SPX from that level so far.

11 AM
There is still some hope for the bulls, as 15 min OBV, has not made lows yet today.  I suspect it may do so in the coming days.

7:15 Am
We have still not taken out the high from the turn date. Path should still be down, I forgot to mention yesterday the NDX system I look at is still on a sell.

I shed!
We can not deny that a breakout maybe to the upside. The NYA may try, and close a gap just under 9200. That  may be an good place for a rally to fail for us. If we are to believe the turn date we got so far, we need to be convinced that the break will ultimately be down, but we should not marry that position. A clue for us, might be to see the Russell turn from here, and continue to be weak.


Feb 20, 2008
12:15 PM
Great chance to get short again. We still have not broken above the highs on the turn date a few days ago, and RSI looks to be peaking again.

10 AM
SPX , and the OEX are hanging around the zero line on CCI. They have not been able to gather any momentum to the upside on the daily.

9 45 AM
We look to be in better position now, to start seeing more of a selloff this week.
 
7 AM
Not good for the bulls, no gaps on the downside. We may need to rally before we possibly continue going down, as RSI is not overbought to me at this point.

Wedge on the US dollar, and a flat Heartbeat.

Happy Birthday Bro!

Inflation dropped in Canada yesterday? Is that for real or was it just because we have a huge build up in inventory according to what someone told me. I have not looked it up myself. If the good news on inflation is reflected in the USA, it could set the stage for a massive rally from the wedge on the daily charts. I do not see that happening though, I think we may just get a another leg down if the US reflects the inflation rate in China.  


Feb 19, 2008
11 30 AM
I do not believe we have exceeded the highs from two days ago. I think we need to give the downside the benefit of the doubt here still.

8:37 AM
Might still be looking good for the bears as OEX OBV, made a new low on the 15 min.

Feb 18, 2008
2 PM
I do not think it will be good for the markets if we gap up on Tuesday. RSI looks peaked on the 15 min, and the 60 min.

Feb 16, 2008
4 30 PM
Please excuse my little rant, I get bored when the markets will be closed for a holiday. My solution to helping solve some current problems, and some future problems facing people in North America, and the rest if the world. It should be made illegal to use fuels based on oil to power cars. There must be a way to make that happen. It might take fifty  years, but we should try to find a way. Oil is far to precious of a commodity to be wasted like that, as there are so many other good uses for it. We need to smarten up. A  whole new industry based on hydrogen fuel to power cars could be started now, and it needs to happen now. Think of all the economic growth that would come from starting a new hydrogen fuel industry. The Europeans have already proved it could be done. Also, hydrogen fuel tanks are safer than gasoline ones from what I have heard. Governments need to start to make this happen now. I would think it would also be a huge boost to the environment, and make a positive impact on some of the health problems that people are seeing now. Gasoline fumes are poisoning us, as lead was poisoning people when it was used in various ways to transport water a long time ago. Leaders should be championing hydrogen fuel, it is the solution to being dependent on oil in my humble opinion. Someone make it start to happen!

Here is a look at OBV on the SPY, does not look good. A Russell system I look at sometimes, is now on a sell along with the NDX system. We may well see 11700 before we get a bounce. Please allow me to plug one of our sites:   http://www.zubee.com/  


Feb 15, 2008
12 16 PM
There might be too many people looking for a test of the lows, the market still does not want to show what it is going to do.  We should know next week, my indicators are telling me to stay short. Have a great weekend everyone!

10 50 AM
Just wishful thinking, probably will not happen as it is E week.

10 35 AM
If they sell the market hard in to the close, we may not have any meaningful weekly RSI divergence, next week. 15 min OBV, may be an indication of futher weakness ahead.

10 AM
We almost made a low on the hourly OEX, OBV, still looking good for the bears.

8 30
Some RSI divergence on the 30 minute, we may get a bounce here.

8 AM
Hourly OBV, on the Dow is looking more constructive for the bears now.

Ideal short trade so far? Maybe, the Fib channel has now dropped to 1375 on the SPX, same idea applies as yesterday, we do not want to see a close near 1375. A move up to here may signal the market may break out to the upside, DOW OBV, is still strong. If hourly, OEX OBV, picks up tomorrow, that may be the case. The NDX system is still on a sell.  We look to be at a crossroad here with regards to the Nasdaq, and the Dow. The Dow chart looks the same as the Nasdaq one below.


Feb 14, 2008
Close
Hourly MACD, suggests there may be smooth sailing downward from here.

12 Noon
So far so good we have been on the right side of two possible turn dates. DOW OBV, still needs to turn down on the hourly for us to see more downside here. It is holding up, so there is a possibility the gap may still get filled on the DOW before the market completely turns.

7 AM
100 point DOW rally should close the gap on the hourly, if it happens.

Where is my Valentine? This one may become well remembered for either a bull, or a bear, if we tag 1383 on the SPX, and we do not selloff hard. I then suspect the easiest path will be up if the SPX stays there. I am sorry I am biased to the bears, but the market will win every argument. OEX hourly, OBV, is being stubborn, and has not joined in this rally yet. 1383, is where a upper Fib band sits, oil stocks may be key players in any selloff if it is to start. The DOW system that I do not post is now flat as well, as is an OEX one that I look at. One of the reasons for my bias is an NDX system is still short. We may need to tag, or turn from the lower band on this VIX indicator before we get any selloff, if we get a breakout.

Feb 13, 2008
12 Noon
Best case for the bulls, would be to have the jobless data that comes out in the morning, causing the DOW to spike up, and then close the gap. We may then roll over with this turn date as RSI is diverged on the hourly on the OEX.

10 40 AM
A gift may be being handed to the bears to get short here.

8:30 AM
The only risk I see here, is the market reacts very favorably to tomorrow's report, and the DOW makes an effort to close the gap just above 12600 on the hourly. I do not see gaps on the SPX or the OEX. Most traders know, there is one on the ES. I have never had a good indication on how many get ignored relative to the cash index. There is also a possibility of the14th being a high rather than a low due to today's market reaction.

Lucky day? Maybe for the bears, OBV on the hourly OEX was not confirming the rally to me, the turn date on the 14th, may end up being a low.  SPX, and DOW, OBV need to turn down for the bears. I am still not that excited about playing the long side. If we do rally, it may just be a  good rally to short. Anything above 635 may be a great short on the OEX. If we rally from here, and RSI diverges on the hourly, any number may be a great short. MSI may be peaking here already. We just barely closed above the Gann line on the hourly that I had mentioned. One system I have, closes out a long if the DOW rises 133 points.



Feb 12, 2008
9:45
The OEX does seem to be the leader to me. It will not be good for the bulls if we turn here at the zero line on hourly MACD.  I  do not expect to make any more updates today unless the market moves up in a big way.

8:45 AM
The Buffet rally seems to be holding, but I would still not want to play the long side as CCI is just approaching the zero line on the daily again where the recent selloff started from. Will the market do a bear dance again? Tomorrows data as the potential for another selloff.

It looks like the gap area I mentioned on the 15 minute chart coincides with the upper Gann line at 620 on the chart below. Only a strong gap up I think at this point would suggest a breakout. Best bet for the bears may be just a gap fill before resuming down, or we just head straight down from the open.

I think there is a Bradley turn date on the 14th. We need to entertain the idea that is possible the market may rally in to that date from here. We may know on the open today. CCI does have some room on the upside on the hourly which may suggest the maket may turn down if we do rally in to the 14th. I may have a better idea after I update tonight. 
 
Feb 11, 2008
12:30
We may need to close a gap just above 621 on the 15 minute before possibly heading down.

10:45
Hourly RSI may be setup for another leg down.

7 AM
Closed out short, we may still go down further, as OBV is still mixed. Going to rest for a bit.