- Markets have been in a bullish Stuck-Up/Melt Up phase since 9/25, where the normal Time and Cycles techniques have not been working.
- We have to let this rally run its course & give us a clear Change of the meltup trend and decline below 2540 SPX, before we consider shorts.
1 comment:
I agree that this has turned into a less predictable, manic stock market blowoff of some kind, with CNN's fear and greed index even blasting all the way to 95 out of 100 recently. Do you have any favorite technical indicators that might help with identifying a top? For example, I like to look for upper trendlines in the price chart combined with an overbought MFI (money flow indicator) or RSI and a very low PVO (percent volume oscillator), very high EMV (ease of movement) and/or very low ATR (average true range). I use stockcharts.com to get those indicators. ATR has been looking especially interesting lately. ATR basically measures volatility and is collapsing in many indices and the VIX (even approaching interesting lower trendlines within the ATR indicator area). From my analysis and other sources calculating when things will heat up again, it still seems like the end of this month or so will be interesting.
Post a Comment