Sunday, October 11, 2009

Indicators and GET OUT THE VOTE

The NYSE Summation index has broken its uptrend line, and its 21 day MA uptrend line.

All these indices are a permanent part of the resources available on the blog, so please visit and click through these links for a look at the guts of the market (internals).

The TED Spread looks like it put in a double bottom in September.  God do I hate these Bloomberg charts -- it is almost insulting on how they present data.  However, if you have a spare $40,000 per year or whatever it is, you can get the real Bloomberg, which is basically unmatched in all the financial industries.  I used to have access to it.

The S&P Bullish Percent Index is heading upward again, bouncing off the 2007 highest level achieved.  One could Place a rising wedge pattern on this.

The McClellan NYSE  had a small 4% change on Friday.   This portends a large move, in the next day or two or maybe three, however, the direction of the move is not known from this indicator.

If futures open down, I will sell on weakness, Sunday afternoon.

You may have noticed on my Chart of Charts that there is a huge amount of stocks that are forming patterns that could break out.  This adds to the liklihood of a big move as predicted by the McClellans small move Friday.

3 Banks Blew up and were taken over by FDIC on Friday.   Pretty consistent, 3 or 4 banks blow up every Friday. 

I ran across this other blog that just had an amazing assortment of links to various economic data

Check it out

Econoday posts that Consumer credit is contracting at a continuing steep pace, while the consumer debt to income ratio has gone from a steady 23.5 to around 22.5.   So even though incomes are going down, consumers are paying down their debt even faster.  Remember the consumer is 70% of the economy, and financial gimmickry is 29% of economy, leaving the remaining 1% to the few people in this country who actually produce a product!  hehe, OK thats an exxageration.

Per Investors Intelligence, percent bears has actually been going up of late.   Hmmm....

No comments:

Post a Comment

Insightful and Useful Comment!